Today St George ran an ad promoting their new discount which is 1.5% below the standard variable rate for 12 months which comes in at the moment at 5.39% a tad under the Rams one though the Rams is for 2 years. This is before the RBA announcement so if there is a 1% reduction it would bring the rate on this product to 4.39%. As it isn't fixed there is still scope to fix if rates look like going up again over the next year and if rates continue to fall.........................
St George 1.5% below std variable
- Thread starter sparky23
- Start date
Hi sparky23,
I must say that the rate you mentioned for St George doesn’t come up on my software or in any emails I have received from St George (I am a QLD Mortgage Broker) but I must say that it would be a great rate and with the expected rate cut in February it would get even better. I will have to look into this first thing on Tuesday.
We are entering a great time in the property investment market as a perfect storm coming with rates dropping and yields as high as they are.
James Grady
Mortgage Planner
http://www.theNEXThomeloan.com
1300 660 107
I must say that the rate you mentioned for St George doesn’t come up on my software or in any emails I have received from St George (I am a QLD Mortgage Broker) but I must say that it would be a great rate and with the expected rate cut in February it would get even better. I will have to look into this first thing on Tuesday.
We are entering a great time in the property investment market as a perfect storm coming with rates dropping and yields as high as they are.
James Grady
Mortgage Planner
http://www.theNEXThomeloan.com
1300 660 107
Not to sure I would not think so. But then again we are talking about a bank.
James
Mortgage Planner
http://www.theNEXThomeloan.com
1300 660 107
James
Mortgage Planner
http://www.theNEXThomeloan.com
1300 660 107
Hiya
we received direct advice from STG last week, I dont believe its state based
ta
rolf
we received direct advice from STG last week, I dont believe its state based
ta
rolf
Special offer - 1.5% p.a off our Advantage Package Standard Variable Rate:
Commences Sunday 25 January
For a limited time we are offering 1.5% p.a. off our Standard Variable Rate for the first 12 months with our Advantage Package for new
applications taken from 25 January 2009. Along with this great offer, as part of the Advantage Package your customers will receive:
* $0 loan establishment fee
* $0 monthly loan administration fee
Please note the following regarding this campaign:
* The Advantage Package Discount Variable Rate margin will be increased to 1.50% p.a off the Standard Variable Rate (i.e. current rate will
be decreased from 5.76% p.a to 5.39% p.a).
* At the end of the 12 month Discount Variable Rate period these loans will automatically roll to the applicable Advantage Package Variable
rate discount and have the $500 differentiated switch fee automatically waived when rolling to this discount.
*The offer is for a limited time only. Once the campaign concludes, the Discount Variable Rate product will revert to the standard discount
margin. The $500 automatic switch fee is applicable for all new applications taken after the campaign end date.
Commences Sunday 25 January
For a limited time we are offering 1.5% p.a. off our Standard Variable Rate for the first 12 months with our Advantage Package for new
applications taken from 25 January 2009. Along with this great offer, as part of the Advantage Package your customers will receive:
* $0 loan establishment fee
* $0 monthly loan administration fee
Please note the following regarding this campaign:
* The Advantage Package Discount Variable Rate margin will be increased to 1.50% p.a off the Standard Variable Rate (i.e. current rate will
be decreased from 5.76% p.a to 5.39% p.a).
* At the end of the 12 month Discount Variable Rate period these loans will automatically roll to the applicable Advantage Package Variable
rate discount and have the $500 differentiated switch fee automatically waived when rolling to this discount.
*The offer is for a limited time only. Once the campaign concludes, the Discount Variable Rate product will revert to the standard discount
margin. The $500 automatic switch fee is applicable for all new applications taken after the campaign end date.
Its only for new loans. Family member went down there today and asked as they have an existing loan.
I wonder whether threatening to move my (several) home loans would change their minds?
Might need to walk the talk though.
With the rest of the major lenders being not much different in rate would be a hard gig to justify logically
ta
rolf
With the rest of the major lenders being not much different in rate would be a hard gig to justify logically
ta
rolf
Hiya Jax
Nah, I think the STG offer is a loss leader to get deals in the door.
ta
rolf
Nah, I think the STG offer is a loss leader to get deals in the door.
ta
rolf
Email which a friend of mine received originating from a St George bank manager in Sydney today stated as of tomorrow St. George can offer a rate of 4.39% for the first 12 months.
My friend is asking me if this is a good rate. If it was 5%-5.5% for 5 years it would be a whole lot better deal imo.
Westpac chief economist is saying RBA rates at 2% by May...so are interest rate futures which has RBA rates staying at about 2% levels through to October.
2% RBA rates in May implies bank discounted variable rates around/just under 4% at this time.
My friend is asking me if this is a good rate. If it was 5%-5.5% for 5 years it would be a whole lot better deal imo.
Westpac chief economist is saying RBA rates at 2% by May...so are interest rate futures which has RBA rates staying at about 2% levels through to October.
2% RBA rates in May implies bank discounted variable rates around/just under 4% at this time.
Hiya AJAX
Its the same product under discussion minus the last 100 pts RBA redn
Its an ok product depending on the circumstances
ta
rolf
Its the same product under discussion minus the last 100 pts RBA redn
Its an ok product depending on the circumstances
ta
rolf
Remember though it isn't a fixed product so you could still switch to fixed if a better one popped up.
I see Sparky. The product you are referring to is not a fixed product and 1.5% below variable rate so if rates drop again so does this product.
The email from a St George bank to me friend stated
"I am confident that St George will lower our Home Loan interest rates by the full 1% today which means as of tomorrow I am able to offer a special interest rate of 4.39% for the first 12 months."
Not so sure the offer from this St. George bank is the same as the 1.5% below variable rate product.
I need to let my friend know about the 1.5% below standard variable product.
The email from a St George bank to me friend stated
"I am confident that St George will lower our Home Loan interest rates by the full 1% today which means as of tomorrow I am able to offer a special interest rate of 4.39% for the first 12 months."
Not so sure the offer from this St. George bank is the same as the 1.5% below variable rate product.
I need to let my friend know about the 1.5% below standard variable product.
