St George Relocation Loan

We are seeing a large level of enquiry around this policy and thought it timely to summarise some of the benefits for the target market of subsequent home buyers who wish to purchase a new property for the purpose of owner occupation or Investment before they have sold their existing property.

Key Benefits

The interest rate may be lower than standard 'bridging finance' rates available elsewhere. Borrowers may be given greater bargaining powers when purchasing their new home. For Contract Building loans, borrowers are able to live in their existing home while the new home is being constructed. Repayments and serviceability are calculated on the end debt amount.


The Relocation With End Loan is split into two parts – a capitalising portion and any existing product type currently available (subject to individual product specifications) for the end debt portion.

The capitalised portion is to be on the standard variable rate only. The Relocation Loan is AVAILABLE for: Owner Occupiers, Contract Building Loans, New Loans 1st Mortgage ONLY, Land to Build (Building is to be completed within 6 months),

A Relocation Loan is NOT AVAILABLE for: 2nd Mortgages Increase (Further) Loans, Vacant Land, Extended settlement loans, Owner Builder Loans, Investors, Family Pledge loans.

Building loans are allowed provided they are being undertaken via a Contract builder (owner builders excluded). There is a maximum of 6 months to build the home from the date of the first advance, then a maximum of 6 months from final draw down to sell the existing home, a total relocation period of 12 months. Eg if the building is completed within 4 months, then the maximum relocation term will be 10 months.

St George have a simple worksheet we can complete with any scenario to determine if your situation may qualify.