St.George today announced an increase in interest rates for standard variable home loans.
The increase will partially offset the cost of fulfilling changed regulatory requirements that will increase the amount of capital that needs to be held against mortgages.
St.George Standard Variable Rate Home Loans for owner occupiers will increase by 15 basis points to 5.69% per annum (comparison rate 5.85% per annum*).
Similarly, St.George Standard Variable Rate Investment Loans will increase by 15 basis points to 5.94% per annum (comparison rate 6.10% per annum*).
The new rates will come into effect on 20 November 2015.
The Reserve Bank of Australia still has Interest rates at its lowers in decades at 2%. BUT with the Banks variable rates going up is it time to review your mortgage and see what options their is ?
Please feel free to contact us if you want an obligation free review of your loan. With over 27 lenders available on your panel, we should be able to help you save money on your loan.
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