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Standard variable home loans are traditionally the most popular type of loan due to the fact that interest rates on these loans vary up or down while repayments do the same. The features attached to standard variable home loans such as offset accounts, redraw facilities, making extra repayments, split loan facilities make it a very attractive loan option.

With a variable rate mortgage the interest rate moves up or down generally in line with the official cash rates set by the Reserve Bank of Australia.

A standard variable home loan offers you flexibility with many features such as redraw, the ability to make extra payments without penalty and the right to transfer your loan to another property in the future.

A basic variable home loan is generally cheaper than the standard variable but it’s normally the “low cost – no frills” version with few added services

Basic Features of a Variable rate Mortgage or Home Loan

+ Variable rates that move with the official cash rates

+ Flexibility

+ Redraw facility

+ Low cost and no frills

At Positive Ledning Solutions we offer variable rate mortgages through a variety of different lenders and our Professional Mortgage Brokers will make an appointment with you, at a convenient time to discuss all your different options.

If you are considering a variable rate home loan or mortgage, maybe also consider a Fixed Rate Home Loan, a Split Loan residential mortgage, a construction loan for those people who are building their own home, a low doc home loan for the self employed or a non conforming home loan for those applicants with previous credit issues.

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