Variable Rate Home Loans

Many types - which one to choose...

Variable rate home loans are subject to interest rate movements. Therefore, they can generally increase or decrease in line with with the Reserve Bank of Australia's cash rate.

There are many type of variable rate loans and they can be classified as follows;

- Basic Variable Rate Loans

- Standard Variable Rate Loans often linked to a professional package to get interest rate discounts

- Line of Credit or Home Equity Loans

 


What to look for...


• Low interest rate, upfront and ongoing fees

The ability to make extra and lump sum repayments

100% offset accounts or free redraw  facility attached to the loan account

• Solid lender that will offer competitive ongoing rates

• Professional packages may provide added value

 

Advantages
Disadvantages

• Ability to make extra repayments with out penalty

Offset accounts and redraw are a common feature

• Discounts available for most variable loans

Interest rate fluctuations

Not all variable loans are the same

 

 


Need Help...submit a mortgage quote and a qualified professional can help you find the right loan best suited to your lending needs.

 

Mortgage Quotes!

 


 

Lenders Variable Rate Homes, Fees and Features...

Lender                           Home Loan to Look Out For More Information
Note: Many More Lenders Available. This is just a representation of some of Australia's most longest standing lenders that offer ongoing competitive rates. Please discuss other lender options with your mortgage consultant.  
 MAJOR BANKS      
ANZ Bank Home Loans Simplicity Plus, Standard Variable and Line of Credit
Commonwealth Bank Home Loans Rate Saver and 3 Year Rate Saver, Standard Variable and Line of Credit
NAB Home Loans Base Rate Home Loan, Standard Variable and Line of Credit
Westpac Home Loans Flexi First Option Home Loan, Standard Variable and Line of Credit
Homeside Lending NAB Home Loans Standard Variable and Line of Credit
SMALLER BANKS      
Adelaide Bank Home Loans Smart Fit Home Loan
AMP Home Loans Standard Variable and Line of Credit
Bank West Home Loans Lite Home and Lite Plus Loans, Standard Variable and Line of Credit
Citibank Home Loans Basic Home Loans, Standard Variable and Line of Credit
ING Direct Home Loans Mortgage Simplifier, Smart Pack, Orange Advantage Offset and Line of Credit
St George Home Loans Basic Home Loans, Standard Variable and Line of Credit
Suncorp Home Loans Back to Basics, Standard Variable and Line of Credit
BUILDING SOCIETIES      
Heritage Bank Basic Home Loans, Standard Variable and Line of Credit
The Rock Building Society Basic Home Loans, Standard Variable and Line of Credit
OTHER LENDERS      
Homeloans Ltd Basic Home Loans, Standard Variable and Line of Credit



 

Need Help?

To find out which lenders offer the most most competitive variable rate loans we recommend that you contact one of our mortgage professionals below. They can show you all the all the hidden costs and restrictions as well as show you the most reputable lenders to choose from.

 

Mortgage Quotes



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