Variable Rates – Go with the flow?
The Standard Variable Rate loan is like the basic home loan however it offers extra features that appeal to most people.
By choosing a Standard Variable Interest Rate you have the option to taylor the loan to your individual circumstances.
Some of the features you may find when selecting a Standard Variable Interest Rate are:
. Pre-approval for a 3 months period to ensure you can take you time when looking for a new property
. Flexibility with your repayments. Pay weekly, fortnightly or even monthly from a nominated savings account
. Redraw access to your additional repayments you have made to your loan
. The option to split your loan into a Fixed and Variable Interest Rate option
. Up to a 30 year loan term
The options are endless and there are many options for you to choose from.
Let us at AAFS help you make the best choice for you.
Eg: the ability to redraw, the ability to have an offset account, have additional splits and the ability to make extra repayments. With this flexibility the rate is a little higher than the Basic Home loan home.