Skip to main content Skip to main navigation Skip to accessibility page Skip to search input

Certainty and flexibility

When choosing the right home loan, one of your decisions is: should I opt for the certainty of a fixed interest rate term or the flexibility of a variable interest rate? Well, splitting your loan lets you have your cake and eat it.

How does a split mortgage work?

Your home loan amount is divided into separate loan accounts, with different rates and fees. You can choose which portion of your loan balance is on a fixed interest rate, and how much goes on a variable interest rate: our split loan calculator can help you decide. You’ll also get separate statements so you can manage repayments and monitor your balances.

Lock in a little certainty

Your Fixed Rate Home Loan portion is protected if interest rates rise during your fixed rate term – choose from 1 to 5 years – so you’ll always know what your repayments will be. Of course, if rates go down, you’ll still need to pay your locked in fixed rate until your term ends. 

Changing your rate can result in break costs which can be very high, so make sure you understand this restriction before choosing a fixed term. 

The freedom to pay off your loan

Your variable portion lets you make unlimited additional repayments (and unlimited redraws1). Our Standard Variable Rate Home Loan also comes with the option of a transaction offset account that’s linked to your loan: every dollar in your offset helps reduce your daily home loan interest.

Why split a St.George home loan?

Best of both worlds

The certainty of a fixed rate and the flexibility of a variable rate, with up to four separate loan accounts.

No fee to split

Whether you’re new to St.George or already have a home loan with us, there’s no fee to split your home loan.  

Minimise interest

Make extra repayments into the account with the highest interest rate (there’s a $30,000 prepayment limit during your fixed loan term).

Option to re-fix

You may be able to re-fix your interest rate at the end of your fixed term, or let it revert to our standard variable interest rate2.

How to apply

Split your existing variable home loan
If you’re an existing home loan customer and you’d like to split your home loan, speak to one our home loan experts on 13 33 30.
Apply for a new home loan
Apply online by selecting a variable rate home loan – a home loan expert will call you back to chat about your options, like splitting your loan.
Visit a branch
You can also drop by a St.George branch to find out more about splitting your home loan.

Important information

1 Redraw facility: if you have 'available funds' (you’re ahead on your home loan repayments) and you’ve activated your redraw facility, you’re free to redraw them with no redraw fee. Read our Redraw Authority Form  for full details. Redraw is unavailable with a Relocation Loan.

2 If at any time before the end of a fixed home loan interest rate period you switch to another product, interest rate (fixed or variable) or repayment type, then a break cost and switch fee may apply. Switch break costs are explained in the Things You Should Know About Break Costs (PDF 69KB).