St.George increases variable home loan rates
Friday, 23 October 2015
St.George today announced an increase in interest rates for standard variable home loans.
The increase will partially offset the cost of fulfilling changed regulatory requirements that will increase the amount of capital that needs to be held against mortgages.
St.George Standard Variable Rate Home Loans for owner occupiers will increase by 15 basis points to 5.69% per annum (comparison rate 5.85% per annum*).
Similarly, St.George Standard Variable Rate Investment Loans will increase by 15 basis points to 5.94% per annum (comparison rate 6.10% per annum*).
The new rates will come into effect on 20 November 2015.
Fixed rates have not been changed, with the current two-year Advantage Package fixed rate for owner occupiers remaining at 4.19% per annum (comparison rate 5.27% per annum*) and for residential investment home loans at 4.44% per annum (comparison rate 5.51% per annum*).
For further information please contact:
M: 0421 623 014
Note to editors:
*Comparison rates are based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.