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I’ve paid off my home loan. What’s next?

Congratulations, now let’s release the mortgage

To remove the mortgage from your property and enjoy the financial freedom of owning your own home, you'll need to follow and complete the instructions on the Property and Security Release form, including any associated costs.


$2K cashback* when you stick with us

Special offer for existing home loan customers

Must apply for a new loan by 30 September and settle by 31 December 2022, plus sell a property with an existing St.George home loan between 1 March and 31 December 2022. Min loan $250K. Conditions, credit criteria, fees, charges, eligibility criteria and exclusions apply.


I want to pay off my home loan faster 

5 simple strategies to get you there sooner:

  • Choose the right rate type for your needs
  • Consider principal and interest repayments
  • Pay extra payments and more frequently
  • You may save on interest if an offset is possible
  • Look at setting a shorter home loan term.

Set up offset

You could use your savings to help reduce the interest you'll pay with an offset account. Use offset with an applicable variable loan.

Set up an offset account

Make extra repayments

By making extra repayments, up to $30,0001 on a fixed rate loan, you could shave years off your home loan.

Extra repayment calculator

Compare interest rates

Fixed rates tend to be lower than variable ones, but it's more important to choose the right loan for your needs.

Featured interest rates

Ready for your next property?

Start your next home buyer journey

Whether you're upgrading to a bigger home or downsizing for retirement, we'll be with you to guide you all the way.


Important information

1. If you make a prepayment beyond the prepayment threshold or change to another repayment type then break costs and fees may apply. Customers can make prepayments of up to the $30,000 prepayment threshold for the entire fixed period without break costs or fees applying. For fixed rate loans taken up prior to 18 August 2019, customers can make prepayments of up to the $10,000 prepayment threshold in each 12-month period without break cost or fees applying. Prepayment break costs are explained in Things You Should Know About Break Costs.

* $2,000 Cashback: Conditions, credit criteria, fees, charges, eligibility criteria and exclusions apply. Exclusive offer available for existing St.George home loan customers who take out a new Owner Occupier or Residential Investment Loans when both: (i) a new home loan application is received from 30 May 2022 to 30 September 2022 and settled by 31 December 2022, and (ii) an existing St.George home loan is sold from 1 March 2022 to 31 December 2022. The cashback will be paid into a St.George Complete Freedom transaction account within 60 days of the settlement of the new loan or the sale of the existing St.George home loan (whichever is later). The transaction account must be linked to the home loan at the time of settlement, and kept open for 60 days after settlement. Only one cashback will be paid regardless of the number of applications, applicants, properties or loans involved. For joint applications, only one cashback payment will be paid to the primary applicant. Before deciding to acquire a St.George Complete Freedom transaction account, read the terms and conditions, and consider whether the product is right for you.

Offer current as of 30 May 2022 and may be varied or withdrawn at any time. $250k min loan amount. No LVR restrictions apply to this offer. Excludes refinances and switches of home loans from external providers or within the Westpac Group (which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS). Offer not available for residential lending originated under family or company trusts, Portfolio loans, Relocation Loans or substitutions of securities (‘Portabilities’), St.George Private Bank customers and customers holding business products, or home loans sold from a different brand within the Westpac Group.

Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters.

Credit provided by St.George - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.