Why St George can stand out
- 01 / Your job
Your job could help you avoid LMI
Some doctors and dentists can buy with a 5% deposit and no LMI. Other listed professions may qualify with 10%.
- 02 / Your pay
Your overtime may count in full
St George can count 100% of eligible overtime and allowances for listed healthcare, emergency services and trade workers, which may help you borrow more.
- 03 / Your first home
Family support can help with the deposit
A guarantor can use equity in their property to help you buy. You still need to afford the loan yourself.
St George's LMI waiver: you could skip the LMI bill
If you're a doctor, nurse, pharmacist, accountant or lawyer, it's worth checking St George before paying LMI with another lender.
Depending on your profession, you may be able to buy with a 5% or 10% deposit and pay no lenders mortgage insurance. That's one less cost to cover when you buy.
Who can get the waiver?
Scroll to see more columns
| Your profession | Deposit you may need | What to check |
|---|---|---|
| Doctors, including GPs, hospital doctors and medical specialists, and dentists | From 5%, plus purchase costs | No minimum income for the waiver, but you still need to afford the loan |
| Registered nurses and midwives | From 10%, plus purchase costs | At least $90k a year from accepted professional work |
| Pharmacists | From 10%, plus purchase costs | At least $90k a year from accepted professional work |
| Other listed health professionals | From 10%, plus purchase costs | At least $90k a year from accepted professional work |
| Eligible accountants | From 10%, plus purchase costs | At least $120k a year from accepted professional work, plus the required professional membership |
| Lawyers, solicitors and barristers | From 10%, plus purchase costs | At least $120k a year from accepted professional work, plus a current practising certificate |
Other listed health professions include physiotherapists, psychologists, optometrists, vets, radiographers, sonographers, occupational therapists, chiropractors, osteopaths, podiatrists, audiologists and speech pathologists.
Two eligible applicants may be able to combine their professional income to meet the relevant minimum. Rent or a partner's income from an unrelated job doesn't count towards that minimum.
Some partners in accepted law and accounting firms, and certain senior executives at ASX Top 100 companies, also have options. Engineers aren't included in the professional waiver reviewed for this guide.
Your registration, income, property, loan purpose and total lending across the Westpac Group also affect whether you qualify.
A pharmacist couple’s LMI example
Professional LMI waiver · Pharmacist couple
How the pharmacist waiver could remove a five-figure LMI cost
We worked with a couple where one partner was a pharmacist. They also had HELP debt.
St George could consider a loan of around $1.027m without LMI, subject to the remaining application and property checks. The waiver could avoid a five-figure LMI bill.
Your profession could make a big difference to the cost of buying.
First-home buyers: check how your deposit will be counted
St George participates in the Australian Government 5% Deposit Scheme. Eligible buyers can use a 5% deposit, or 2% for eligible single parents and legal guardians, without LMI. The scheme's eligibility rules, property price caps and St George's loan checks still apply.
Our first-home buyer guide walks through the buying process.
Savings, rent and gifts are treated differently
St George applies its genuine-savings test to every scheme application. It wants evidence of how you've built up your deposit, even if you're using the scheme's minimum.
- Your savingsNeeds to meet the bank's genuine-savings rules
- Rent you've paid6 months paid through a licensed property manager may satisfy the test for an eligible home purchase; it doesn't provide cash for the deposit
- A gift or grantCan help cover the purchase, but doesn't count as genuine savings under this rule
You're generally expected to put most of your available savings towards the purchase. St George can allow you to keep up to 6 months of living costs. Where relevant, it can also allow up to 10% of a construction contract and $10k for essential repairs.
Compare CBA's first-home buyer options if your deposit includes a family gift.
Our house deposit guide explains the difference between your total deposit and the part a lender may want to see as genuine savings.
Family Pledge: buying with help from a guarantor
How St George Family Pledge works
- Your family provides securitySt George calls its guarantor loan Family Pledge. An eligible family member uses part of the equity in their Australian residential property to guarantee part of your loan.
- That can help with a smaller depositThat can help you buy with a smaller deposit and reduce or avoid LMI. Your guarantor doesn't need to give you that amount in cash.
- You repay the whole loanYou still need to afford the whole loan yourself. St George won't add your guarantor's salary to your income to make the repayments work.
Who can be your guarantor?
- Can be consideredParent, step-parent, legal guardian, child, step-child, sibling or step-sibling.
- Not accepted under this optionSpouse, grandparent, aunt, uncle or unrelated person.
What else needs to fit?
- Buying an investmentnone of the borrowers can already own another property.
- Buying a home to live inyou can own no more than 1 other property. St George also checks whether you already have enough equity to avoid LMI without a guarantee.
- Building or renovatinglicensed-builder projects with payments made in stages may be possible. Owner-builder projects aren't covered by this option.
- Other borrowingyou can't use it to consolidate debts or take out extra cash. Increasing an existing guarantee requires a new arrangement.
Read our guarantor home loan guide for the risks and how a guarantee can later be released. Our Bankwest review is also worth comparing because lenders accept different relatives and guarantee arrangements.
Self-employed? You may not need two years of full financials
St George has a few ways to check business income. The documents you need depend on which option you qualify for.
Using one year of tax figures
St George may use your latest year's figures if you're borrowing in your own name and your business has traded for at least 2 full financial years. You generally need to borrow no more than 80% of the property's value. Each borrower also needs a credit bureau score of at least 650 under this option.
Documents for the one-year option
You'll need your latest personal tax return and ATO Notice of Assessment. If your business operates through a company, trust or partnership, you'll also need its latest tax return and balance sheet. St George reduces positive business income by 10% for this calculation.
Fast Track: use two tax assessments
Fast Track can use your last 2 personal ATO Notices of Assessment without full business financials, if you qualify. A Notice of Assessment is the result the ATO sends after processing your tax return.
Our self-employed home loan guide explains the different ways lenders use your figures. Compare NAB too.
How much could you borrow with St George?
St George checks your income, debts, credit-card limits, living costs and dependants. It also tests whether you could afford repayments at 3% above the actual rate.
The way it counts your income can make a difference, especially if your payslip includes overtime or you've recently changed jobs.
Healthcare, emergency services and trades: your overtime may count in full
St George normally uses 80% of eligible overtime, commission and allowances. Its expanded PAYG Plus policy can count 100% of overtime and allowances for employees in listed healthcare, emergency services and trade roles.
The healthcare and emergency services list includes doctors, nurses, midwives, medical imaging professionals, pharmacists, physiotherapists, occupational therapists and vets, along with frontline police, firefighters, ambulance officers and paramedics.
The trade list includes electricians, plumbers, carpenters, mechanics, aircraft maintenance engineers, cabinet makers, glaziers, metal fitters, surveyors and other listed roles. We’ll check your exact occupation before using the higher income amount.
You generally need income evidence covering at least 6 months with the same employer. A shorter history may be referred for consideration. Office-based emergency services staff and self-employed applicants do not qualify for this overtime option. Bonuses are still counted at 80%.
This is a borrowing-power benefit. Being on the overtime list does not automatically qualify you for an LMI waiver; those profession rules are separate.
Our police LMI waiver guide and nurse home loan guide explain the options across other lenders.
New job, casual work or parental leave?
- New permanent job without LMIYour first payslip may be enough. Probation doesn't automatically rule you out
- New permanent job with LMIUsually 3 months in the job, although a solid history in the same line of work can help
- Casual workUsually 6 months with the same employer or agency
- Second job with LMIGenerally 12 months of history
- Parental leaveConfirmation of your return-to-work base salary and how you'll cover repayments until then
The parental-leave option doesn't extend to a general career break.
Our parental leave home loan guide explains the return-to-work evidence to prepare. If you've changed jobs, see our new-job home loan guide.
Other things that can change the result
- HELP or HECSthe compulsory repayment may be left out if the debt will be cleared within 12 months and you're no longer studying. St George needs an ATO balance statement.
- Rental incomeit generally uses 90% of supported long-term rent, or 95% in selected postcodes. It also limits the rent it accepts relative to the property's value.
- Credit cardsSt George can count 3.8% of the card limit as a monthly commitment. A $20k limit can count as $760 a month, even if you pay it off every month.
- Company caran eligible fully maintained vehicle can add up to $5k a year to the income calculation.
St George also compares your total debt after the new loan with the annual income it accepts. Debt around 7 times that income can need a closer review. St George also checks whether you can afford the repayments after your living costs.
Our HECS and home loan guide explains how the repayment and remaining balance affect the calculation.
For new applications from 29 June 2026, St George no longer includes an assumed negative-gearing tax benefit from existing investment properties when calculating how much you can borrow. That may reduce borrowing power for some investors. It changes the bank's calculation, not your tax entitlements.
Our visa home loan guide covers the broader lender options.
St George home loans, offsets and fees
Start with whether you'll use an offset account. St George's Standard Variable loan can link to up to 10 full offsets. Its Basic loan has fewer fees but no full offset.
St George home loans, offsets and fees
Scroll to see more columns
| Option | Why you might choose it | Main thing to check |
|---|---|---|
| Basic variable | A straightforward loan with no establishment or monthly fee on the current fee table | No full offset account |
| Standard Variable | Optional full offsets, unlimited extra repayments and a construction option | Setup and monthly fees apply unless packaged |
| Advantage Package | Rate discounts, some fee waivers and eligible credit-card benefits | $395 a year; generally needs at least $150k in eligible St George home lending, excluding bridging |
| Fixed rate | Set repayments for your chosen fixed term | No offset; break costs may apply if you exceed $30k in extra repayments during the fixed term |
You can also split your loan between fixed and variable portions. Our offset account guide explains how an offset works. Compare Macquarie and ING if offsets and ongoing fees matter to you.
The main fees
- $395 yearly
Advantage Package
Annual package fee.
- $600 setup
Standard Variable outside the package
$600 establishment fee, plus $8 a month.
- $350
Mortgage discharge
When you pay out the loan or discharge the mortgage.
The package can waive the establishment and monthly loan fees. Other legal, valuation and government costs may apply. Check the St George package details and your loan offer for the full costs.
Interest-only options
For a home you live in, an interest-only period can run for up to 5 years. For an investment, it can run for up to 15 years when you borrow 80% or less of the property's value, or up to 10 years above 80%.
The interest-only period and the remaining principal-and-interest period can't exceed 30 years combined. Repayments increase when you start paying down the loan as well as the interest.
Pre-approval and turnaround times
St George calls its pre-approval an In Principle Approval. It's generally valid for 90 days, but check your letter's expiry date.
The bank still needs to accept the property and valuation before final approval.
St George approval stages
Scroll to see more columns
| Stage | What happens |
|---|---|
| Prepare the documents | Include current evidence for your income, deposit and debts. |
| Get the application assessed | St George checks your borrowing position and credit file. |
| Get the property approved | Leave time for the valuation and any building or location checks before your finance deadline. |
We check St George's current turnaround before working to a deadline. Final approval may need more documents, a valuation, a scheme reservation or a senior credit decision.
Our pre-approval guide explains what pre-approval does and does not cover. Our guide to a loan being declined after pre-approval explains why the property can still cause a problem.
Already with St George? Ask for a rate review
We can check whether St George will offer you a better rate before recommending a move.
We compare your current balance, rate, fees and offset savings. If part of your loan is fixed, we check the break cost too. Then we weigh up the new offer against the cost of refinancing, including discharge, setup, legal and valuation fees.
Our guide to how home loan refinancing works covers the wider process and switching costs.
Our home equity loan guide explains how usable equity is calculated and what to consider before increasing a home loan.
Check the property before you commit
A pre-approval mainly checks your finances. The property still needs to fit St George's rules.
Apartments and units
Check the internal area, building, postcode and how much St George already lends in the development.
Building or renovating
Check the builder, contract, contribution and completed property before committing.
Buying before you sell
Check your equity, expected sale proceeds and the debt left after selling.
Apartments and small units
St George generally wants at least 40 square metres of internal living area, excluding balconies and car spaces. A studio may work if it has a full kitchen and bathroom.
Some high-density or unusual developments need to be on the bank's approved-building list. St George also limits how much it lends in one development: generally 30% of the homes overall, and 4 properties for one borrower group. It may consider 5 or 6 for a borrower group case by case.
Our apartment loan guide covers the checks to make before signing.
Building or renovating
A standard construction loan generally needs a licensed builder and a fixed-price contract. Cost-plus contracts aren't accepted. Your contribution is used before the loan funds, and the finished property can have no more than 4 homes on one title.
Owner-builder and kit-home projects have separate, tighter rules and may be limited to 60% of the completed property's value. Get the building arrangement checked before committing to the project.
Our construction finance guide explains the loan stages and documents to prepare.
St George bridging loans: buying before you sell
St George's Relocation Loan gives eligible buyers up to 12 months to sell their current home after buying their next one.
Interest is added to the bridging loan, so no repayments are required on that part during the bridging period. The longer it takes to sell, the more interest builds up.
- Your highest debt while you own both homesIt normally needs to stay within 80% of their combined value; LMI isn't available
- What your current home is likely to sell forThis determines how much debt will be left after the sale
- How you'll repay any remaining loanYou need a workable repayment plan after selling
- Your sale timelineThe bridging term is 12 months
The loan is for eligible buyers moving into their next home. It doesn't cover investment purchases, debt consolidation, owner-builder projects or a guarantor-loan arrangement. If selling the old home will clear the whole debt, St George may not need its normal income test.
Read our bridging loan guide and compare Westpac's bridging options before committing to purchase and sale dates.
How does St George compare with other lenders?
How does St George compare with other lenders?
Scroll to see more columns
| Your situation | Where St George may help | What we'd compare |
|---|---|---|
| Eligible professional | LMI waivers with a 5% or 10% deposit, depending on your job | The profession lists, income requirements and total costs at NAB, Westpac and ANZ |
| Eligible healthcare, emergency services or trade worker | 100% of eligible overtime and allowances may count under PAYG Plus | How each lender treats your exact role and payslips |
| Buyer with a guarantor | Family Pledge can help with a smaller deposit | Which relatives can help, the guarantee amount and release conditions; see Bankwest |
| Self-employed borrower | One-year and Fast Track options | Whether another lender accepts more of your profit or recent growth |
| Buying before selling | Interest can be added to the bridge for up to 12 months | Required equity, repayments, sale deadline and debt left after selling |
We compare the loans that fit your situation on rate, fees and features. A useful rule at one bank doesn't automatically make it the cheapest or best choice overall.
Hunter Galloway lender rating
St George broker score
St George scores well for professional waivers, eligible overtime income, family guarantees and bridging. Small or unusual properties need more checking, and existing customers should keep an eye on their rate.
7.6/10
Very good in the right circumstances
Our rating across 6 categories
Score breakdown
Each category is scored out of 10
- Credit policy fitStrong professional, overtime-income, guarantor and bridging options8.5/10
- Borrowing capacityCompetitive for some incomes, but debt and investment rules can tighten the result7.5/10
- Property acceptanceStandard homes are straightforward; small or unusual properties need care7.0/10
- Product and offset featuresUp to 10 offsets, building loans, portability and bridging8.0/10
- Application speed and certaintyGenerally quick for a complete, straightforward application8.0/10
- Ongoing pricing and serviceFull-service banking, but existing-customer pricing still needs review6.5/10
Experience and sources
How this guide was checked
We rechecked St George’s public professional-waiver, PAYG Plus, package and Family Pledge information on 11 September 2026. This update includes the expanded overtime and allowances policy.
Other detailed lending rules retain the broker-policy review dated 4 September 2026. Sources not rechecked in this update keep their earlier check date. We confirm the current rules for your application before recommending a loan.
Joshua has worked in mortgage broking since 2011 and holds Diploma and Certificate IV qualifications in finance and mortgage broking.
Sources and check dates
- Detailed St George lending policy: checked 4 September 2026; not fully rechecked in this public-source update.
- St George home loan product information — checked 7 September 2026
- St George professional waivers and PAYG Plus eligibility — checked 11 September 2026
- St George professional-waiver terms — checked 11 September 2026
- St George self-employed assessment guide — checked 7 September 2026
- St George Family Pledge information — checked 11 September 2026
- St George Relocation Loan information — checked 7 September 2026
- Australian Government 5% Deposit Scheme — checked 7 September 2026
- MoneySmart guidance on deposits and LMI — checked 7 September 2026
- APRA's mortgage serviceability buffer explanation — checked 7 September 2026
- How Hunter Galloway reviews lenders
- St George Advantage Package fees and offsets — checked 11 September 2026
Lending rules, fees and assessment queues can change. We confirm the current position before recommending a lender.
What home buyers say about us
Google“Clear, incredibly responsive and accurate.”
- Google
“Preapprovals done quickly and efficiently.”
- Google
“Reassuring every step of the way.”
More help with your home loan
LMI waivers
Compare professions, deposits and lender rules.
Read guideSelf-employed home loans
Compare income records and lender options.
Read guideGuarantor home loans
Understand the family arrangement and risks.
Read guideOffset accounts
Work out how an offset could help.
Read guide5% Deposit Scheme
Check eligibility and participating lenders.
Read guideBridging loans
Plan buying before selling.
Read guide
St George home loan FAQs
Want to know whether St George works for you?
We can compare your income, deposit and property across St George and other lenders, then explain your options.
or call 1300 088 065
Hunter Galloway Finance Pty Ltd is Credit Representative 476903, authorised under Australian Credit Licence 389328.
