Variable Rate Loans
Posted by
on October 26th 2009
These types of loans generally have fully flexible options and are available for First Home Buyers, Home Movers, Investors, Refinance, and Construction Loans and in some cases even for business purposes.
Being a variable interest rate loan the interest rate can fluctuate depending on what is happening in the financial markets which can benefit you if the interest rates go down. Some of the features are listed below:
- Redraw – This allows you to access surplus funds that have been paid into the loan in excess of your normal monthly repayments.
- Offset – Funds held in an offset account can help reduce the interest cost on your loan.
- Additional Payments – Principal reductions can be made at any time without incurring a penalty.
- Portability – Even if you sell your existing property and purchase a new one you can keep the same loan and the benefits you already enjoy with this type of loan.
For more information, please contact us by phone or use our online contact form.
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