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Home Loan Refinance from 2.84% p.a. Variable Owner Occupied P&I <60% LVR + $2,000 Property Seller Cashback @ St. George

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RBA announced another cash rate hike by 0.5% today, 05/07/2022. This will be ongoing for a while until inflation is stabilised. An additional $2k cashback for St George’s existing clients who are going to sell and borrow again with St George.

Please note that St George is very slow at the moment and it is not suitable for urgent applications.
If this loan is not suitable, we can also access to other banks with good rebates for both refinancing and purchases.

Cashback condition:
$4k cashback eligible refinance applications received between 8 December 2021 to 31 July 2022 and settled by 31 October 2022 with minimum $250k loan and LVR under 80% LVR.
$2k cashback offer to reward loyalty amongst St George’s existing clients who are selling their existing security property and purchasing their next property with St. George. The offer is available to existing Owner Occupier or Residential Investment Loan customers who both:
- Apply for a new St.George loan (not Refinances) between 30 May 2022 and 30 September 2022; and settle on that new loan by 31 December 2022, and sell an existing St.George security property between 1 March 2022 and 31 December 2022.

Rates highlight:
Variable rates offer below come with discount over the life of the loan.
Rates are changing constantly and we will confirm prior to application.

Owner occupied P&I with comparison rate (CR)
Basic variable with redraw 2.84% CR 2.86% at <60% LVR
Basic variable with redraw 2.89% CR 2.91% at 60%-80% LVR
2 year fixed at 4.79% under package fee of $395 under 80% LVR

Investment P&I with comparison rate (CR)
Basic variable with redraw 3.24% CR 3.26% at <60% LVR
Basic variable with redraw 2.89% CR 2.91% at 60%-80% LVR
2 year fixed at 4.99% under package fee of $395 under 80% LVR

Comparison Rates:
Each comparison rate is based on $150,000 over 25 years. These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates.

Other refinancing rebates available:
CITIBANK – up to $6,000 cashback when you refinance your home loan before 31 Jul 2022 T&Cs apply.
AMP – up to $5,000 cashback when you refinance your home loan before 31 Jul 2022 T&Cs apply.
ING - $3,000 cashback when you refinance your home loan before 31 Jul 2022 T&Cs apply.
BANKWEST - Get up to $2,000 cashback when you refinance your home loan until 31 Feb 2023 T&Cs apply
SUNCORP - Get up to $4,000 cashback when you refinance your home loan by 30 Nov 2022 T&Cs apply

See also here for broker $500 Rebate offer

My Profile:
Ex CPA accountant for over 10 years before becoming a full-time mortgage broker for over 8 years now and steaming ahead.
Contact me for a no obligation meeting via Calendly or call me directly.
https://calendly.com/james-sim
James Sim - Senior Mortgage Broker
M: 02 8319 4862 / 0487 000 098
E: [email protected] or [email protected]
W: https://www.nectarmortgages.com.au/project/james-sim/
Australian Credit License number 387856

Recent review: Won National Top Broker for customer service award 2021

Related Stores

St.George Bank
St.George Bank
Nectar Mortgages
Nectar Mortgages
Third-Party

Comments

  • Citibank offer for new purchases as well?
    Have you got LVRs wrong way around here?
    "Investment P&I with comparison rate (CR)
    Basic variable with redraw 3.24% CR 3.26% at <60% LVR
    Basic variable with redraw 2.89% CR 2.91% at 60%-80% LVR"

  • +1

    Whats the minimum loan rate?

  • Refinance every 6 months seems the only way to compensate the extra repayment burden due to increase in interest rate similar to 6 monthly NBN switch over.

    • +2

      Wouldn't banks eventually start instantly declining you if you churn that often?

      • Everyone wants business. Banks wouldn't care.

        • The banks do have a blacklist of clients that keep churning - one of my clients got instant decline by ANZ.

    • every 6 months

      feels like our NBN plan… somehow they sees the future…XD

  • +1

    Thought I would share my experience in 'churning' to St George from Suncorp earlier in the year

    • Their browser internet banking sucks (App is pretty good)
    • They Automatically setup 2x loan repayments
    • They charged me twice for the yearly FREE credit card with the package
    • It was diabolical trying to get an ATM Debit card (create account, spend hours on phone linking to offset, wait 60 days for card to go to branch, bring 50 forms of id to branch when picking up card)
    • Setting up sub accounts was a manual on the phone process, then having them set as offset accounts took even more phone calls.
    • Doesnt seem to be a way to send secure messages via internet banking ? I had to use the complaints process for a simple query. Otherwise spend hours on the phone.

    Other than that I got my 3k for churning. Was it worth it ? No i dont think so. Suncorp actually offered me 3k cash back to stay. I should of taken their offer and saved myself the hassle. As per previous comments I think it is absolutely worth playing the churn game. However my experience with st George was very frustrating.

    Good luck Bank Churners

    • Yeah St George systems suck. When my wife and i refinanced with them, they ended up treating me as the only account holder. Sent me bank cards, internet login etc, wife got nothing.. when i logged on, it was like they just reopened my old account from 20 years ago, had all the same internet banking contacts etc. Was a bit weird.

      Wife tried to request card/acct access etc over phone, no luck after sitting on hold forever. Got told to go into branch with id etc.. despite the fact our accounts are in joint names and we both provided id during the application process.

      Apart from that, app seems mostly OK. Sometimes it thinks your password is incorrect, even if you change it, it says incorrect password when you try logon. Fix seems to be waiting a couple of days then it works again

      • it was like they just reopened my old account from 20 years ago

        They all do that. We refinanced to CBA a while back and they pulled in my account number from primary school.

  • Be careful if you are doing two loans at the same time with ST George (might apply to others) they will link them together and they will have to settle them both together which can royally stuff your day/month.

  • Is there a minimum time you have to be with your current lender before you can refinance? I heard each bank is different?

    • Banks have break fees, discharge fees, etc. for this reason. If you are on a fixed loan it will cost more to end early than variable.

  • the term on website is:

    Apply by 31st July 2022, and settle by 31st October 2022. Owner Occupier (P&I repayments) and Residential Investment loans, with LVR up to 80%.

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