Standard Variable Home Loans for flexiblity
Most borrowers prefer Standard Variable Rate Home Loans because they are considered the most flexible and may include features such as the ability to make extra repayments, redraw funds or split your loan.
The interest rate on a standard variable is also not locked in as it moves up and down in line with the Reserve Bank of Australia's interest rate fluctuations. However, while standard variable rates move with the Reserve Bank of Australia's rates, the different lenders still offer different rates and features on their standard variable loan products.
Access Low Rate Standard Variable Home Loans with Flexible Features
Your ability to access a low rate standard variable home loan with flexible features will vary across the different lenders, generally according to the amount you are borrowing. To find out which low rate standard variable home loans will suit your situation, call us on 13 LOAN (or +61 2 9249 3739 for international callers) or email us the form on this page and we will contact you within 2 business hours.
Advantages and Disadvantages of Standard Variable Rate Loans
| Pros |
Cons |
| If interest rates drop, repayments might drop |
If interest rates rise, repayments will rise along with the amount of interest paid. |
| Pay off your home loan faster by making extra payments without incurring penalties |
Extra features means you may pay a higher interest rate than a basic variable loan |
| Additional repayments can usually be taken back by you |
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How do Variable Rates Move Up and Down
Variable rates are driven by the Reserve Bank of Australia (RBA) monetary policy. This policy is based on a range of economic indicators and the RBA uses interest rates to manage people's expenditure and thereby the economy. The lenders then move their rates up or down in line with these official interest rate fluctuations. Bear in mind that different lenders offer different rates, to find out what the current standard variable home loan interest rates are, you will need to talk to your local mortgage broker.
More information or help
For confidential assistance with your home loan or to talk to your local mortgage broker, call us at any time on 13 LOAN or call our direct line on +61 2 9249 3739.
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