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Tips: variable rate home loans
Variable home loans are the standard loans that most people apply for. This is because banks only allow you to fix your home loan rate for a few years, after which the interest rate begins to move with market trends.
Potential home owners applying for a variable loan also have the option of splitting their loan, so that a part of it is calculated at the fixed rate. This way, if rates rise, at least you will still be paying a low rate on part of your home loan.
Variable home loans also provide a lot of flexibility, so you can choose to make additional repayments, and redraw these repayments at your convenience.
Compare and find the most suitable variable rate home loan for you.
Disclaimer
This article is over two years old, last updated on January 7, 2009. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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Product database updated 26 Nov, 2024
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