Explore Home Loans

About St.George

St.George was a building society from its inception in 1937 until 1992, when it became a bank. It was acquired by Westpac in 2008, and has since become a major operating division of the Westpac Group.

St.George runs the St.George Foundation, which supports small, local charities including the Pinnacle Foundation, Raw Potential Canberra and Reason to Thrive.

St.George home loans at a glance

Offset accounts available
Redraw facilities available
Line of credit available
Split rate option available
Green loan available
Ability to make extra repayments
Internet banking available
Salary crediting
Choice of repayment flexibility
Refinance available
Services first home buyers

What types of home loans does St.George offer?

St.George’s range of home loan products on offer currently includes:

Farewell paperwork, it's Home Loan Heaven

Apply now

Who does St.George lend to?

St.George offers home loans that may be appropriate for first home buyers, refinancers, prospective house-builders, borrowers in need of bridging finance between home loans, property investors and more.

However, when it comes to what types of borrowers St.George lends to, there are a few points that prospective borrowers should keep in mind.

The first is that St.George has a minimum required loan-to-value ratio (LVR) of 95%, meaning youare unlikely to be approved for a home loan with St.George if your saved deposit is less than 5% of your total proposed loan size. Additionally, depending on the suburb a property’s located in, St.George may require a lower minimum LVR in order to reduce the perceived risk of lending against a property in that area.

St.George also likely won’t give you a home loan if you can’t repay your proposed home loan at a rate 3% higher than the advertised interest rate. This is because the Australian Prudential Regulation Authority (APRA) requires all lenders to assess an applicant’s ability to service their proposed home loan in the event of interest rate hikes.

Can I get a St.George home loan as a first home buyer?

Yes, St.George provides home loans to first home buyers. While they don’t offer a specific first home buyer loan, they have several tools and resources available to help first home buyers navigate the process of buying a home for the first time.

Does St.George offer the Home Guarantee Scheme?

Yes, St.George is one of the 33 participating lenders chosen by the Federal Government to offer the Home Guarantee Scheme. The Home Guarantee Scheme helps certain home buyers secure a home loan with a deposit smaller than 20%, without having to pay lenders mortgage insurance (LMI).

The Home Guarantee Scheme is made up of three separate initiatives:

  • The First Home Guarantee, which allows eligible first home buyers to purchase a home with a deposit of as little as 5%.
  • The Family Home Guarantee, which allows eligible single parents to purchase a home with a deposit of as little as 2%, regardless of whether they’re a first home buyer or not.
  • The Regional First Home Buyer Guarantee, which allows eligible first home buyers to purchase homes in regional areas with a deposit of as little as 5%.

Applications for one of these schemes can only be made through a participating lender or a mortgage broker acting as an authorised representative of a participating lender.

Can you refinance your home loan with St.George?

Yes, you can switch your home loan to St.George from another bank by refinancing. Borrowers refinancing their loan with St.George can choose either a fixed or standard variable rate to switch to and can add an offset account to eligible loans.

Additionally, borrowers with St.George may be eligible for FASTRefi, which can cut the time required for settlement down to days instead of weeks.

Does St.George charge Lenders Mortgage Insurance (LMI)?

St.George requires a borrower to take out lenders mortgage insurance (LMI) when the borrower’s deposit represents less than 20% of the total loan value; however, other circumstances may also necessitate the borrower paying LMI.

St.George allows borrowers to either pay their LMI upfront or roll it into their home loan, which is known as ‘capitalising’ your LMI.

What home loan fees does St.George charge?

As of May 31, 2024, St.George lists the following home loan fees and charges pertaining to its home loan products:

  • Lending Establishment Fee: $600
  • Document Processing Fee: $100
  • Fixed Rate – Lock-In Fee: The higher of 0.15% of the loan amount or $500
  • Annual Package Fee: $395
  • Loan Account Fee: $8 per month
  • Loan Discharge Fee: $350
  • Missed Payment Fee: $15

Please note that not every fee listed will be applicable to every home loan offered by St.George. Check the Key Fact Sheet of any home loan product you’re looking at to see what fees you’d pay if you took out the loan in question.

Interested in a St.George home loan? Compare with us today!

If you want to learn more about St.George home loans, you can use our home loan comparison tool to compare them against a wide range of other loan products from nearly 20 other lenders.

Comparing home loans with us means only being shown home loans you’re eligible to apply for, and having a dedicated team of Home Loan Specialists on-hand to help you with any questions you may have. And if you find a home loan that you think might be appropriate for you, you can apply for it then and there – entirely online, with no physical paperwork.

So, if you’re in the market for a home loan, compare your options today with Compare the Market!


Stephen Zeller, Home Loans Expert

Meet our home loans expert, Stephen Zeller

Stephen has more than 30 years of experience in the financial services industry and holds a Certificate IV in Finance and Mortgage Broking. He’s also a member of both the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Mortgage and Finance Association of Australia (MFAA).

Stephen leads our team of Home Loan Specialists, and reviews and contributes to Compare the Market’s banking-relating content to ensure it’s as helpful and empowering as possible for our readers.


single alexksander portrait in bottom global block

Ready to look for a better deal? It’s easy to compare with us.

Compare home loans
single sergei portrait in bottom global block