Variable Rate Home Loan

A variable loan is the most common type of home loan used in the Australian home loan market, and consists of either a standard variable or a basic variable.

A standard variable loan generally offers features such as the ability to access redraw facilities, the ability to pay out the loan early, options to make additional payments etc.

A basic variable loan will often have a slightly lower interest rate but may have less flexibility.  These loans are often favoured by first home buyers as they provide a cheaper repayment which may offset the lack of features and flexibility.

 

If you would like additional information, please call one of our experienced loans officers on 1800 775 555 to see whether this type of loan is suitable to your needs.