Refinancing your home loan

Sometimes the grass is greener. Check out the perks of St.George, and how refinance works – you could get same-day approval.

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Why refinance your home loan to us?

Hunt for a better rate

Tell us about your home and discover your borrowing power. We’ll let you know when we’re about to run a credit check.

Generous redraw facility

Make extra repayments on our Fixed Rate, Basic or Standard Variable loan with offset – and withdraw them if you need to¹.

FASTRefi^® option

Qualify for FASTRefi^®, and settlement could take days rather than weeks from signing your loan documents^^.

Paperless application

Submit your application online in as little as 20 minutes. Or apply in-branch or by phone. You could also qualify for FASTRefi^®^^.

Basic home loan. No-frills rate.

6.29 % p.a.
variable rate

6.30 % p.a.
Comparison rate*

T&Cs apply. See comparison rate warning.

LVR⁺ up to 70%. Rate includes 1.84% p.a. discount off our Basic home loan variable rate. Also includes 0.10% p.a. discount for LVR⁺ up to 70% (your deposit is min 30% of the property value). For new Owner Occupier loans on Principal & Interest^^^.

Credit criteria, T&Cs apply. See comparison rate warning.

Find out more Find out more

Compare our home loans and interest rates

Save a bundle when you package

Our customers save around $5k in interest, in the first year alone ^‡
Plus: $0 ongoing home loan fees
Plus: savings on your credit card and more
All for a $395 annual package fee ^#.

Based on a $400k packaged variable home loan. Eligibility criteria, T&Cs apply.

Home loan package Home loan package

How much could you save?

Already have a St.George home loan with us?

You can apply to increase your home loan. Note that this different from a home loan refinanace. Apply for a home loan increase.

Help me choose

Use our home loan selector to match with the right options.

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It's easy to get started

Save time, apply online

Apply online for a home loan, conditional approval or to switch to us.

You could get approval in 1 business day
Dedicated lender will support you from application to settlement.

Get started Get started

Learn more about applying

Book an appointment

A member of our team will be in touch within 1 business day.

They’ll answer your questions and guide you through your next steps.
A lender can start your application for you.

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Frequently asked questions

What does 'refinance' and 'Owner Occupier' mean?

If your current loan is with another lender, you can switch to a St.George home loan: we call this ‘refinancing your home loan’. If you’re existing home loan is already with us, and you’d like to increase your loan with a ‘top up’, you can find out more here.

'Owner Occupier’ means you live in the property. If you live elsewhere, you’re an Investor.

What are the costs of refinancing a home loan?

St.George fees

No home loan application fee.
Check out our home loan fees, e.g. lending establishment and ongoing fees.

Non-St.George fees

Mortgage Registration fee from your State Government.
Possible exit fees from your existing lender, and a break cost for breaking a fixed loan contract.
Potentially, a property value fee – talk with one of our lenders.
Lenders Mortgage Insurance if you have less than 20% equity – estimate your LMI.
Stamp Duty if you want to borrow more – talk with one of our lenders.

Is refinancing worth it?

It hinges on who you refinance to, how much you might save, your equity and financial situation, the costs and the features you're after.

Comparing apples with apples

How does your current lender compare with us? St.George was awarded overall 2022 Canstar Bank of the Year in the Home Loan Refinance Awards¹offering best overall outstanding value for loan application, settlement, day-to-day management and life-of-loan support. As well as 'competitive rates across both fixed and variable rate refinance home loans'.

Costs

Remember to factor in any costs involved, like exit fees with your current financial institution and break costs for a fixed rate home loan, plus new loan set up fees and monthly fees with your new lender. How much equity you have can also make a difference: if your home’s equity is under 20%, you may need to pay lenders mortgage insurance (LMI).

Our home loan fees

Estimate your LMI

Outstanding value

Refinance your home loan and you could reduce your loan balance. Refinance to a lower interest rate and you could lower your minimum repayments, and pay off your loan sooner. Did you know our fixed rate home loan is one of the few to offer a linked partial offset account?

Refinance calculator

Life-of-loan support

At St.George, we're here for you during your entire home ownership journey.

Should I switch to a fixed rate loan?

It depends on your situation. We can't answer that question for you, but these questions can help you decide.

In the next 5 years, how far ahead do you plan to get on your loan?

If you plan to prepay more than $30k, you could consider:

A shorter-term fixed rate loan (prepaying more than $30,000 during a fixed loan term can incur a break cost).
Making unlimited additional repayments on any St.George variable loan. Or parking your spare money in a 100% offset linked to our Standard Variable Rate loan
If there's a spending temptation around having huge sums of money in your offset account, you could transfer some into your variable home loan account as additional repayments. You’d enjoy the same reduction on your variable home loan interest.

Do you like knowing exactly what your minimum repayments will be?

Set repayments make it easier to budget, and you could consider:

Our fixed rate loan, which gives you the certainty of minimum monthly repayments that are protected from any interest rate rises.
Setting up a repayment buffer on your standard variable or basic loan: a Direct Debit or scheduled repayment that’s significantly higher than minimum repayments.

In the next 5 years, are you planning to sell or pay out your loan?

If you plan to change your home loan soon, you could consider:

Our variable rate loans, which give you the flexibility to pay off the balance as soon as you can.
Our shorter-term fixed loan (prepaying more than $30,000 during a fixed loan term can incur a break cost).

More options:

Split home loan

Variable loan offset account

Advantage Package

Interest Only

Building option

When can I refinance my home loan?

What’s the refinancing process?

How long does refinancing take?

Fast approval. Apply online, by phone or on-branch – and you could get approval in days instead of weeks.
New loan settlement. Submit your application and one of our dedicated lenders will support you from application to settlement. If you qualify for FASTRefi^®, your St.George new loan settlement could take days rather than weeks after signing your loan documents^{^^}.
Can I talk to someone about my rate? Submit your application and one of our lenders will call to go over your loan details.
What documents do I need to apply? See our how to apply page.
What's the valuation process? We’ll carry out your property valuation⁴ online based on comparable sales and market trends in surrounding areas. If needed, we’ll arrange an on-site bank valuation by an external property valuer (a property valuer fee may apply).
Will I be able to cancel my application? Your obligation-free application will stay open for six months after you've submitted or saved it. You can also cancel your application up until you accept our loan offer.

How does FASTRefi® work?

FASTRefi®^{^^} is quicker and simpler than the traditional refinancing process - meaning you could access your new St.George home loan in days, rather than weeks.

It's fast. Get your new loan sooner with FASTRefi®.
It's easy. We handle the process for you.
It has no extra fees. FASTRefi® costs borrowers no more than a standard refinance.
It gives you more certainty. Be confident about when your new loan will be ready.
It's trusted. Thousands of people use FASTRefi® each month.

Your guide to FASTRefi® (PDF 904KB)

Here's a summary of our FASTRefi^® process:

Step 1 – apply

Apply for your home loan as normal.
Your St.George lender calculates your estimated payout: they'll let you know if you qualify for FASTRefi^®.

Step 2 – sign your loan documents

Once you’ve returned your signed St.George loan documents and shown evidence of your current balance, relax – your work is done!

Step 3 – we'll open your St.George loan

We'll send the funds electronically to your other lender, paying out your old loan – your St.George loan is ready.
You may be charged an additional settlement agent fee by your old lender (ANZ, CBA, Citibank, NAB and Westpac tend not to charge this fee).

Step 4 – we'll settle your old loan

After settlement, we'll complete the recovery of your title and registration.
Any leftover buffer is refunded to you. Or if there's a shortfall, you'll need to cover it.

Do I qualify for FASTRefi^®?

FASTRefi^® is available with most of our residential variable and fixed interest rate home loans, and investment property loans. One of our lenders will let you know if your loan qualifies for FASTRefi^® – just apply online in as little as 20 minutes, and they’ll follow up with a call.

Start your application online

Request a callback

What if my home loan isn’t eligible?

Don’t worry, your St.George home loan’s well worth waiting for – and we’ll do our very best to fast-track settlement using our standard refinance process. Switching to our fixed home loan? Our rate-lock option lets you lock in your rate at the time your loan is approved.

How do I apply to package my home loan?

Did you know you could save thousands by packaging* our Standard Variable Rate or Fixed Rate loan? Here's how:

An interest rate discount (unavailable on existing fixed home loans)
No home loan fees for maintenance, increase, portability or switching
No annual fee on any St.George credit card, other fees and charges may apply
Discounts on selected insurance products
All for a $395 annual package fee.

Request a call back and one of our home lending experts will call and talk you through what packaging means for you. Or ask your mortgage broker.

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Important information

Conditions, credit criteria, fees and charges apply. Based on St.George’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.

Loan Accounts – Charges for specific services and accounts (PDF 43KB)

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.

This calculation is not an offer of credit but an estimate only. Your borrowing power amount may be different when you complete a full application and we capture all details relevant to our lending criteria. Our lending criteria and basis upon which we assess what you can afford may change at any time without notice. Before acting on this calculation you should seek professional advice.

Loans subject to credit criteria. Where the loan to valuation ratio is 80% or above, lender’s mortgage insurance will be required for a fee. Other fees, charges and purchase costs apply. Terms and Conditions available upon application. (Additional funds required for transaction and establishment costs).

The calculator does not take into account any future refinancing options which may be available. The calculator does not take into account any applicable bank fees. For details on fees and charges, please go to stgeorge.com.au.

The output or result of these calculators:

is subject to the assumptions which are subject to change;
is prepared without knowing your personal financial circumstances. Before you act on the output of the calculators, please consider if it’s right for you. If you need more information, please call 13 33 30. We recommend that you consult your financial adviser before taking out a loan;
does not represent either a quote or pre-qualification for a loan;
may not be taken into account if you apply for a loan with us as we will make our own calculations. When assessing ability to service a loan, St.George may use an interest rate that is higher than the current interest rate for the loan requested.

The interest rates used in the calculator:

are current, as indicated on our home loan interest rate pages
are St.George's standard interest rates and include any package or promotional discounts; and
are subject to change.
LVR above 70% up to 80%

Fixed rate home loan: St.George will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan interest rate.

^{^^^}Basic Home Loan Promotional Rates:

Basic Home Loan Promotional Principal and Interest Rate: This offer is only available for new Owner Occupier Basic Home Loan applications with Principal and Interest repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Residential Investment Basic Principal and Interest Promotional Rate: This offer is only available for new Residential Investment Basic Home Loan applications with Principal and Interest repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Basic Home Loan Promotional Interest Only Rate: This offer is only available for new Owner Occupier Basic Home Loan applications with Interest Only repayments received from 26/10/2020. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Residential Investment Basic Interest Only Promotional Rate: This offer is only available for new Residential Investment Basic Home Loan applications with Interest Only repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

^{^^} FASTRefi®: Only available: on eligible new St.George home loans; on eligible home loans with your current lender; if your other lender is on the FASTRefi® process list of eligible financial institutions. Your other lender may charge you an additional settlement agent fee, as well as fixed rate home loan break costs. Loan suitability for the FASTRefi® product is determined by St.George in conjunction with the insurance product guidelines. FASTRefi® is provided by First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908 Australian Financial Services Licence 263876, trading as First Title, an Australian general insurance company authorised by the Australian Prudential Regulation Authority. Conditions, fees and charges apply. Lending criteria apply to approval of credit products. This info doesn’t take your personal objectives, circumstances or needs into account, so please consider FASTRefi’s® appropriateness and read the disclosure documents for your selected loan, including the Terms and Conditions, before deciding.

^#Advantage Package: Terms & Conditions (PDF 648KB) apply. A $395 annual package fee applies and is payable from an eligible St.George transaction account. Before deciding to acquire a St.George transaction account, read the terms & conditions, and consider if the product is right for you.

^‡Package Savings: This is an estimate of potential savings; actual savings may differ depending on your situation. Estimated savings amount calculated on a $400,000 home loan receiving 1.32% p.a. discount on a packaged Standard Variable Rate home loan compared to an unpackaged Standard Variable Rate home loan. Advantage Package Conditions of Use $395 annual package fee applies.

⁺⁺⁺Comparison Rate: The comparison rate is based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

⁺LVR stands for the initial loan to value ratio. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won’t change during the life of the loan as the LVR changes.

⁺⁺Potential savings: gives an indication of the amount you could save on new repayments if you switched to the St.George home loan example, with calculations based on monthly repayments, in respect to the original amount, annual interest rate and term you entered. Potential savings over the life of your loan are based on the difference between estimated total interest on your current home loan and the St.George home loan. Loan term reduction amount is based on the time you could save by paying off the St.George home loan if you increased your repayments. Extra interest you could save calculation is based on increasing your repayments on the St.George home loan.

¹Redraw facility: if you have 'available funds' (you’re ahead on your home loan repayments) and you’ve activated your redraw facility, you’re free to redraw them with no redraw fee. Up to $100k will be available to redraw from your variable loan online or over the phone each day (in-branch it’s $30k). For fixed loans you can redraw up to your prepayment threshold during your fixed term. Read our Home Loan Redraw Form (PDF 83KB) for full details.