St. George ups LVR ante

By |

St. George has notifed its broker network that it will increase its maximum LMI LVR from 90% to 95% for new to bank customers, as it seeks to stimulate growth in in third party originated loans.

Steven Heavey told Australian BrokerNews the bank was looking to push its third party mortgage porfolio growth back up to system levels, following slower than expected growth.

The bank's credit changes are designed to boost its third party performance, and come in tandem with its decision to revert to paying commissions for loans in arrears between 30 and 60 days.

In addition to the boost to 95% LVR, the bank has offered a $700 refinance rebate for new and existing customers, who choose to exit another institution in favour of a St. George packaged loan.

This is being run in conjunction with the bank's intro campaign, that is cutting 1% off the standard variable rate for the Introductory Rate Home Loan for the first year, after which it reverts to 0.70% per annum off the standard variable rate, if taken as part of the Advantage Package.

Heavey commented that the bank was had put a range of different credit initiatives in place "when things were pretty tough", and now that the market was increasingly competetive, it was time to "relook at some of those credit changes to get back to where we were".

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : upper kedron , south brisbane , geelong west , sth toowoomba , westmead

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here