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Why choose our building option?

Designed for new builds
Our Standard Variable Rate Home Loan can be used for house & land packages, building your dream home or renovating. Available whether you have a contract builder or you’re an owner builder.
Save on interest
Instead of paying interest on your whole loan from the start, you’ll only be charged interest on your loan balance as it increases with each drawdown.
Pay as you go with progress drawdowns
Make progress payments to your builder at the end of each construction stage, after you’ve given the approval to pay – so you’re always in control.

With our handy building option,

you could save on interest.

With progress payments, you only draw down the money you need as stages of construction are completed. Even better, there’s no fee to use this option.

Tell me more

  • Funds only advanced in stages as your Contract Builder completes pre-agreed construction milestones.
  • You save on interest during the construction process period – as you only pay interest on the amount drawn.
  • Make Interest Only repayments until construction’s completed and your loan’s fully drawn down.

The Detail

Credit criteria, fees and charges apply. Based on St.George credit criteria, residential lending is not available for Non-Australian Resident borrowers.
Residential Loan Agreement
General Terms and Conditions.
Loan Accounts
Charges for specific services and accounts.

Important information

Credit criteria, fees and charges apply. Terms and conditions available on request.

Before making a decision, it’s best to read the terms and conditions:

Residential Loan Agreement – General Terms and Conditions (PDF 345KB)

Loan Accounts – Charges for specific services and accounts (PDF 70KB)

Please read these documents and keep a copy. You can request a paper copy at a branch.

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 33 30.