Basic variable loans typically offer lower interest rates and fewer features than the standard variable loans. You often have the option to pay for any additional feature required. Interest rates and repayments will vary throughout the loan term.
Basic Variable Rate Home Loan
Advantages & disadvantages
Advantages
- Relatively low interest rate
- Lower repayments
- Extra repayments allowed
- Redraw facility often provided
Disadvantages
- Many of these loans do not have the same features or flexibility as other variable loans
- Generally don’t have an offset account
Next steps
- Contact us to discuss your initial thoughts and requirements
- Complete our finance application form covering the purpose for seeking credit and the amounts of credit sought
- We will then contact you to arrange an initial consultation, to agree the basic information required and the process for completing such
- Once that has been compiled we will review it and then provide a written strategy for you to consider.
- If you’d like to proceed, we will then work with you on a formal loan application process
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