From 7 April 2008 St.George/BankSA is making changes to the No Deposit – Quick Start Option. This option is suitable for those customers who have minimal funds upfront to purchase a property. This includes customers who do not wish to pay the LMI or the LEF (Loan Extension fee). The changes are as follows:

• The variable interest rate margin will increase from 0.32% to 0.50% above the Standard Variable Rate;
• The fixed interest rate margin will increase from 1% to 1.15% above the Standard Fixed Rate; and
• This option will no longer be available for refinancing and debt consolidation - it will be restricted to purchase, construction, vacant land and investors.

The following table outlines the features of our No Deposit Quick Start option, including these key changes.

• Genuine Savings - Not required
• Interest rates - currently 0.32% above standard variable 1.00% above standard fixed changing to 0.50% above standard variable 1.15% above standard fixed
• Early termination fee - 1.75% if loan discharged within four years
• Loan category - Owner Occupied or Investor
• Loan Purpose - Currently Purchase Construction Refinance Debt consolidation Vacant Land Investors Policy Exceptions (Eg paid defaults) - New Purchase Construction Vacant Land Investors
• Establishment Fee - $750
• Repayment type - P & I (owner occupier and investor) Interest Based (investor only)
• Maximum loan size - $750,000

Please note, existing No Deposit Quick Start customers and those customers applying for a No Deposit Quick Start Option home loan before Monday 7 April 2008 will not be affected.