Introducing new Home Loan Serviceability Rates, effective Tuesday 16 July 2019
Following APRA’s updated serviceability guidance, St.George will be making some important residential lending policy changes to buffer and floor rates.
Effective from Tuesday 16 July 2019:
- The assessment rate is decreasing to 5.75% p.a. from 7.25% p.a.
- St.George will now service Fixed Rate Home Loans on the Variable Revert Rate.
These changes will impact the benchmark rate that is used for serviceability assessment. This may have a positive impact on the borrowing capacity of qualified borrowers