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Sydney Mortgage
Revealed: Important new information for First Time Buyers.
With falling interest rates, now is definitely the time to refinance your home loan interest rate.
Is your home loan still a good deal? Our free home loan review will find out for you.

Standard and Basic Variable Home Loans

Variable rate home loans offer you the chance to continuously track the interest rate on your Sydney home loan, against any official interest rate changes.  The interest rate on variable loans can go up or down depending on the movements of the official interest rate. 

Over the life of the loan, borrowers can take advantage of lower rates, but also run the risk of paying higher rates should official rates increase and you have not locked in a fixed rate.

Interest Rates are Falling FAST.

Make sure you take advantage by speaking to a Sydney finance broker now. Just complete the form below
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Standard variable
Remaining one of Australia’s most popular home loan, the standard variable rate loan offer borrowers a range of extra benefits and options.  These include extra repayments, redraw facilities, flexible repayments such as weekly or fortnightly and the standard loan also comes with the option to split the loan.
The interest rate is usually quite competitive although it will be higher than a basic variable loan because of the extra features.

Basic variable
This is the ‘no-frills’ approach to mortgages.  Often coming with a lower rate than a standard home loan, the basic variable rate home loan is popular with people on low budgets and first home owners, who all want a low rate.  The low costs are achievable because this loan does not usually come with any extra facilities and is not very flexible.  Borrowers will not be able to make extra repayments or change repayments very easily.

Advantages of Variable Home Loans
  • Standard and basic variable home loans offer more flexibility than you get with other loans such as fixed rate loans
  • Your interest rate will go down if the official rates are lowered
  • Interest rates on a variable loan are usually very competitive and often offer some of the lowest rates on the market
Risks with Variable Loans:
  • Your interest payments will go up if the Reserve Bank increases official interest rates
  • Repayment amounts can fluctuate meaning you need to be very organized with your finances
Standard and basic variable home loans are suitable for most people, as any rate reductions benefit all borrowers, however, you need to be sure you could afford any rate increases.

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