Is St George a good bank for mortgage? They offering $4000 cashback and 5.24% variable interest rate. Currently am with NAB
Is St George a Good Bank for Mortgage?
georgev on 01/05/2023 - 10:17
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Depends
Did Whirlpool reject you for this kind of posting?
Ay-ay-ay!
The multiple shower posts pale in comparison …. or do they??
They are my favourite
i rate it because of the cute dragon.
If your name is George, yes.
Probably better than others, but not as good as some.
Not sure but their NRL team stinks.
I have been with them with my mortgage since 2016. Havent been too bad. Only annoyance is the app or their website going down for unscheduled maintenance but that doesnt happen too often.
Hi OP, St George are a good bank. A lot of their processes are digital including the signing of Loan Documents, so it makes it even easier for the customer. 5.24% with a $4k cashback is one of the sharpest offers in the market at the moment.
The only thing to note is that St George have a long turnaround time. It may take up to 10 business days for your application to be assessed by their credit team from when you apply, so it's an extended 2 weeks of sitting tight. And if your application is complex (St George needs more information/documents etc.) - it gets drawn out further.
So good offer, long wait.
If you have more questions, feel free to DM me (I'm a mortgage broker - but no obligations, just here to help).
One of the lowest rates with high cashback. Keep in mind, settlement fee ($100) and annual fee (395).
Great points made above. However just note that the extended turnaround time only is only applicable if you apply via the broker channel. If you were to apply directly with a St George Lending Manager, the application could be approved on the spot and your loan could be with St George within a week (Could take a day or two longer if your deal needs to go to credit, however majority of deals do not need to).
Full disclosure, I’ve recently joined St George as a Mobile Lending Manager.
Depends. Are they prepared to lend you money? If so, pretty good. If not, not so much.
Why would you care if they are a "good bank"? They are the ones LENDING YOU the money.
Because am planning to do daily banking also with them
they're owned by Westpac so probably similar to Westpac?
Is Westpac a good bank?
/s
what makes a bank good?
Just avoid BOQ at all cost! I have the pleasure of currently being with them and I feel like I’m dealing with a bank from the late 90’s. They required signed documents posted to them, I havnt posted a letter for about 10 years and the app is something I would expect a year 10 engineering student to submit for a project… cannot wait to refinance
I had some issues setting up the mortgage with them initially (in the exact same scenario as you - setting up a new mortgage for refinance cashback), but otherwise I've been quite pleased with their services. They're easy to use, responsive customer service and wouldn't have an issue recommending them from that perspective.
Is any bank good?
I guess it depends on your definition of good…
A better question would be 'how do they compare to other banks in regards to …?'
The more specific your question(s), the more specific we can answer.My application took months to process.
St George is a subsidiary of another bank like allot of banks. So which bank are you wanting to know about the subsidiary or the owner of St George bank?
A yes vote to St George bank. No issues, simple banking app etc.
I'm a fan of St. George. Electronic documents is a win.
They offering $4000 cashback and 5.24% variable interest rate.
I signed up with 4k cashback end of last year. My current rate is up to 5.64% now. App and website are both terrible. Worse than Westpac. They even have some very annoying things like you can't even check which loan your offset is linked to, you have to call up and request them to tell you. Our approval process took like 1.5 months because they didn't understand how QLD health contracts work
Oh no that’s not a good. NAB increased interest to 5.82% but one phone call they reduced to 5.34%
I refinanced for the 4K cashback QLD, I had no issues with the mobile lender nor the approval process (Loan was very straight forward) I also opened up other accounts, they have all been fine and they offer a good interest rate on the freedom saver account (great for saving regularly) For pays, I have two pays coming in and both come a day late compared to other employees, for e.g. if everyone gets paid on Monday PM, I have the credit first thing Tuesday AM. Internet App is not the best, but workable. Overall, satisfied.
Come on George