Your St.George loan no longer feels competitive. Here is what St.George charges when you leave, how its discharge process works, why moving to another Westpac Group brand rarely helps, and when staying is the better call.
Last updated November 2026. Every St.George fee and process below comes from St.George's own published material, checked November 2026. We do not quote interest rates because they change too often.
Should you refinance your St.George home loan?
Refinance away from St.George when a lender outside the Westpac Group beats, on comparison rate, what St.George offers after you ask for a review, and the saving repays your switching costs within a year or two. On a NSW variable loan, leaving costs about $715 in St.George and government fees before any new lender charges. Fixed loans and loans over 80% of the property's value need extra checks for break costs and lenders mortgage insurance.
Start with a real market comparison. Our refinancing service does that at no cost.
St.George, Westpac, Bank of Melbourne and BankSA: one group
St.George, Bank of Melbourne and BankSA are all divisions of Westpac Banking Corporation. Each website footer shows Westpac's ABN (33 007 457 141) and credit licence. That matters when you refinance:
- New-customer offers exclude internal moves. St.George's refinancing page says its promotional Basic Home Loan rates exclude "internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne and BankSA". Westpac's online refinance offer has a matching exclusion.
- Real competition sits outside the group. For a genuine comparison, look at other banks and non-bank lenders.
How does refinancing away from St.George work?
A new lender pays out your St.George loan and registers its own mortgage on your title. St.George discharges its mortgage and closes your account. Its published steps:
- Request a callback online or call 1300 302 302 (8am to 8pm, Monday to Friday, AEST, option 2).
- St.George sends you a Property and Security request form.
- Download, complete and sign it. All account holders and any guarantors must sign.
- Email it to mortgagesecurityvariations@stgeorge.com.au.
- St.George reviews the request and contacts you with any questions.
- St.George says to expect a confirmation letter about 10 days after it receives everything it needs.
Your new lender then books settlement, pays the payout figure (principal, outstanding interest and fees) and registers its mortgage.
What St.George's retention team will say
St.George's discharge page has a section headed "Give us the chance to keep you" and asks for 15 minutes of your time. Its callback page lists reasons to stay: avoiding discharge fees, application fees and break costs, and skipping a new application and valuation. Those are fair points, and they are the costs we check for you.
Take the call, but with a specific competing offer and its comparison rate in hand. That gives you the best chance of a real repricing.
What does it cost to leave St.George?
| Cost | Amount | Who charges it |
|---|---|---|
| St.George loan discharge fee | $350 per loan account | St.George |
| NSW discharge of mortgage registration | $182.73 | NSW Land Registry Services |
| NSW new mortgage registration | $182.73 | NSW Land Registry Services |
| Break cost (fixed loans only) | Individually calculated | St.George |
| New lender application, valuation and settlement fees | Varies, often waived | New lender |
| Lenders mortgage insurance (LMI) | Varies, only if borrowing over 80% | New lender's insurer |
Discharge fee. St.George lists a discharge fee of $350 per loan account, across its Basic, Standard Variable, Fixed Rate and Relocation loans. With split loans or an investment loan, it can apply to each account, so ask for the total in writing.
Government fees. St.George quotes "$150-300" because title fees vary by state. In NSW, from 1 July 2026, it is $182.73 to register the discharge and $182.73 for the new mortgage.
Older introductory loans. St.George's fees page says its introductory products carry an early termination fee if discharged within a set time frame. Check your loan documents.
For every other cost, read what refinancing really costs.
Break costs on a fixed St.George loan
St.George charges a break cost if you repay early or switch product, rate or payment type during a fixed period. It reflects the gap between today's wholesale rate for your remaining term and the rate when you fixed. From St.George's break cost page:
- You can prepay up to $30,000 during the fixed period ($10,000 for loans taken out before 18 August 2019).
- An estimate is valid for two business days only.
- St.George warns break costs "may be high, sometimes tens of thousands of dollars".
When staying with St.George is the right call
- St.George reprices you. Moneysmart recommends asking your current lender for a better deal first. If St.George matches the market, you save the fees and paperwork.
- Your break cost is high. Waiting until the fixed term ends is often cheaper. We can have a new loan ready for that date.
- Your LVR is over 80%. LMI does not transfer, and a new premium can outweigh years of savings. See how to avoid LMI in Sydney.
- You use the offset. St.George allows up to 10 offset accounts on its Standard Variable Rate home loan. Make sure any new loan has a full offset too.
- Your circumstances have changed. A new lender assesses you from scratch.
- The saving is small. A tiny gap may take years to repay $715 in fees.
If fees are the issue, St.George's Basic Home Loan has no monthly or establishment fees, versus the $395 annual Advantage Package fee.
How to compare a new loan with your St.George loan
Start with the comparison rate. As St.George explains, it combines the interest rate and certain fees into one figure, based on $150,000 over 25 years, and does not include every fee. Our guide to comparison rates has more. Then check:
- Offset. Run your average balance through our home loan offset calculator.
- Repayments. Compare both loans in our loan repayment calculator over the same remaining term.
- Cashback. Treat it as a bonus, not the reason to move. See refinance cashback offers.
A hypothetical example: you owe $580,000 across two St.George splits and find a loan outside the group 0.35% a year cheaper on the comparison rate. That is about $2,030 less interest in year one. Leaving costs $700 in discharge fees (two accounts) plus $365.46 in NSW fees, about $1,065 before new lender costs. You are ahead in roughly six months.
How long does a St.George refinance take?
St.George's confirmation letter comes about 10 days after it has everything it needs, while your new lender's approval runs alongside. In our experience, a straightforward refinance for an employed borrower settles in about three to five weeks. Self-employed income and trusts take longer. Get every signature on the discharge form at once.
What a broker does that St.George's retention team won't
St.George's retention team can only offer St.George products. A broker can:
- Compare lenders outside the Westpac Group, so you know the real market price.
- Work out your true break-even, including break costs, LMI and per-account discharge fees.
- Handle the application and coordinate the discharge.
- Act under a legal best interests duty, which has applied to mortgage brokers since 1 January 2021 under ASIC oversight.
Sometimes the right answer is to stay on a repriced St.George rate. We will tell you if so. Book a free strategy call or speak with our Hills District mortgage broker team in Norwest.
Ready to see what your St.George loan should cost?
We will compare your St.George loan with lenders outside the Westpac Group, work out every switching cost, and tell you whether to ask St.George for a better deal or move. Start with our refinancing service, see how we work as a Sydney mortgage broker, or call 1300 11 7976.
This article is general information only and is not financial advice. It does not take your objectives, financial situation or needs into account. Fees and processes are as published by St.George and NSW Land Registry Services in November 2026 and may change. St.George is a brand of Westpac Banking Corporation; RyRo Loan Centre is not affiliated with St.George or Westpac.
Quick answers
Frequently asked questions
St.George lists a discharge fee of $350 per loan account. If your loan is split into several accounts, the fee can apply to each one. In NSW you also pay $182.73 to register the discharge of mortgage and $182.73 to register the new lender's mortgage. Ask St.George for the total payout figure in writing before you commit to a new loan.
Call St.George on 1300 302 302 (option 2) or request a callback online. St.George sends you a Property and Security request form, which all account holders and guarantors sign. You email it to mortgagesecurityvariations@stgeorge.com.au. St.George says to expect a confirmation letter about 10 days after it has everything it needs.
You can, but St.George and Westpac are part of the same company. St.George's offer terms exclude internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne and BankSA. Westpac's online refinance offer has a similar exclusion. If you want new-customer pricing, compare lenders outside the group.
It may. St.George's refinance callback page invites borrowers who are thinking of leaving to talk to it first, and Moneysmart recommends asking your current lender for a better deal before you switch. There is no guarantee. You are more likely to get a result if you can name a specific competing offer and its comparison rate.
St.George says its break cost estimate is valid for two business days, because the wholesale rates it is based on change daily. If you proceed later, you need a new estimate. For a refinance, request one early to decide whether to switch, then another close to settlement.
If your new loan is more than 80% of your property's current value, the new lender may require LMI and charge a new premium. LMI you paid with St.George does not transfer. If you are close to the threshold, a fresh valuation or reducing the loan amount may help.
Yes. St.George says you can switch home loans by calling 1300 304 660 or visiting a branch, and you can switch to a fixed rate online. A product switch generally avoids discharge and government registration fees because the mortgage stays in place, though break costs can apply if you leave a fixed rate early and St.George charges a fee to lock a fixed rate.
Our refinance help is free to you. We are paid a commission by the lender you choose, and we disclose it before you proceed. Because we have a legal best interests duty, our recommendation has to suit you, even if that means staying with St.George on a better rate.
