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Relocation Loan

  • A Relocation Home Loan removes the stress of timing the sale of your existing property with the purchase of your new property
  • You have a 6 months to build your new home and a further 6 months to sell your existing property1
  • Use a Relocation Loan to pay for the deposit on the new property and then borrow the balance at settlement, plus additional expenses like stamp duty and removalist costs
  • A great alternative to bridging finance, which can be expensive, with a competitive interest rate
Enquire now

A St.George home loan expert will contact you at your preferred time

Two options – with or without an 'end loan'

  • A Relocation Loan with NO end loan – your loan is paid out in full when you sell your existing property
  • A Relocation Loan with an end loan – choose from a range of St.George Home Loans once your Relocation Loan period ends when you sell your existing property. With this option, you will have 2 home loans to cover the:
  1. Relocation Loan period and
  2. Remaining end loan that you have chosen after your Relocation Loan period ends.

Competitive interest rate

Availability

  • For owner occupiers and investors buying a property, contract building, or buying land to build (building must be completed within 6 months)1
  • Not available for uses including owner building, vacant land or extended settlement loan

Repayments

  • Repayments depend on the type of loan
  • A Relocation Loan with NO end loan - No repayments are needed and interest is capitalised until the end of the Relocation Loan period. You then repay that the Relocation Loan in full when you sell your home.
  • A Relocation Loan with an end loan - Make repayments only on the remaining end loan that you have chosen after your existing property is sold and the proceeds of which have been used to pay down the original Relocation Loan.

Loan Term

  • Relocation Period for non-building loans - the sale and settlement of your existing property must be completed on or before the date which is 6 months after the date of the first advance under the Relocation Loan
  • Relocation Period for building loans - 12 months in total: 6 months to sell your existing home and an additional 6 months to build your new home1

Live in your existing home

  • For building loans, you can live in your existing home while your new home is being built

Great features!

  • Features on a Relocation Loan with end loan include 100% interest offset, redraw and more!

Compare

Fees
  Relocation Loan
with end loan		 Relocation Loan
with no end loan
Establishment fee $6002 $13502
Monthly administration fee $10
Other fees and charges apply. See a complete list of fees for loan accounts.
Interest rates
  Relocation Loan
with end loan		 Relocation Loan
with no end loan
Interest rate Standard Variable Interest Rate of   p.a. with interest capitalised on the Relocation Loan until your existing property is sold + Rate of the home loan chosen for your end loan on the amount remaining. Standard Variable Interest Rate of   p.a. with interest capitalised until your existing property is sold
Comparison rate3 (secured loan)     p.a. See our Home Loan comparison rate schedules  
Repayment options
 

Relocation Loan
with end loan

Relocation Loan
with no end loan
Frequency
  • Interest is capitalised and no repayments are required on the Relocation Loan which will be repaid, in part by the proceeds of sale of your existing property and in part, by your end loan
  • On your end loan, choose to pay interest only or principal and interest. For principal and interest, you can choose to pay weekly, fortnightly or monthly, or make monthly repayments for interest only loans.
  • No repayments required during the Relocation Loan period
  • Interest is capitalised and you pay the loan in full upon sale and settlement of your existing property
Automatic repayments
  • Set up convenient automatic repayments from your nominated account
  • Not applicable
Additional payments
  • Additional payments can be made at any time
  • While payments are not required, you can make lump sum payments at any time
Choose the features you need
On a Relocation Loan (end loan or no end loan option)
Deposit Protect Bond
  • Use a Deposit Protect Bond instead of paying a cash deposit immediately, and keep earning interest on your deposit money right up until settlement
  • Also ideal when using equity in an existing property to finance your purchase
On a St.George end loan:
Package and save!
Consider splitting your end loan
100% interest offset
  • Depending on the product chosen for the end loan, with Mortgage Equaliser, our interest offset facility, you could save interest by offsetting the funds in your linked transaction account against the balance of your loan
Redraw
  • Get access to the extra payments you make on your end loan by requesting a redraw5 Redraw isn’t available on the Relocation Loan portion.
  • You could save on redraw fees5 by making your request over the phone or via Internet Banking6
Increase your loan amount

How to apply

Important information

Conditions, fees and credit criteria apply.

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

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 general information, please consider if it’s right for you. If you need help, call 13 33 30.

1Building must be completed within 6 months of the date of the first advance under Relocation Loan. The sale of the existing property must be settled on or before 6 months after the date of the final progress payment – a total maximum relocation period of 12 months.
2Other upfront fees and costs may apply.
3The comparison rate is based on a loan of $150,000 over a 25 year term. 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.
4Advantage Package annual fee of $395 applies, other fees may be payable. The interest rate discount and fee savings apply for the duration of the package. Contact St.George to see if you are eligible to receive Advantage Package benefits
5Redraw requests are subject to our approval. Fees apply. For fixed rate loans, redraw is only available for loans fixed on or after 30 November 2009 up to a maximum of $10,000 or break costs may apply.
6Subject to systems availability.