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Building or renovating

Building or renovating is a great way to get the house you want. You have the freedom to add quality craftsmanship and the design features that you and your family value. Creative projects are both exciting and stressful – that’s why we’re here to help with the basics like getting the right mortgage and saving money.

Building or carrying out renovations is a great way to get the house you want, giving you the freedom to add quality craftsmanship and design features that you truly value. Creative projects like these are exciting but they can be a bit stressful – so we’re here to help with a home loan option that matches your plans. 

Before you start, check that you have the right features on your home loan.  Our building option, for example, lets you draw down funds progressively as you meet each stage of your building milestones, so you’ll only be charged interest as your build progresses. We can set up and manage progress payments for you, giving you more control of your project.

Home loan options for building and renovating

Building option

Our structured, progressive drawdown feature lets you borrow at each construction stage, as the value of your property increases. Available on our Standard Variable Rate Home Loan.

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If you’re ahead on your St.George home loan repayments, or you have spare money in your linked offset account, you could use the funds to self-manage each construction stage.

Manage your home loan

Using your equity to build

You may be able to apply for a top up or a new home loan using the equity in your current home as security. Then self-manage payments at each construction stage using the funds in your variable home loan, or your linked offset account.


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Advantage Package

Package your home loan, credit card and transaction account to get a home loan interest rate discount and fee waivers that could save you thousands1, all for a $395 annual package fee. Unavailable on Basic Home Loans.

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Important information

Conditions, fees and credit criteria apply.

Before making a decision, it’s best to read the terms and conditions:

Please read these documents and keep a copy. You can request a paper copy at a branch. The information on our website is prepared without knowing your personal financial circumstances. Before you act on this general information, please consider if it’s right for you. If you need help, call 13 33 30.

1Advantage Package Terms & Conditions (PDF 217KB) apply. A $395 annual package fee applies and is payable from a St.George Complete Freedom transaction account. Before deciding to open a St.George Complete Freedom account, read the Terms & Conditions, and consider if the account’s right for you.