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Basic Variable
- Loan Type
This product has a discounted interest rate. It is always
a discount of the Standard Variable. This means that
if the standard variable rate is 6.57% and the Basic
Variable has a 0.5% discount then the Basic variable
rate would be 6.07%. Similarly if the Standard Variable
rate where to rise to 7% then the basic variable rate
would be 6.5%.
Aside from being able to redraw, there
are no special features with this mortgage. The benefit
for this style of loan is if you just want to pay your
loan off as quickly as possible then it can offer you
greatest savings because you are not paying for features
that you will never need.
Standard
Variable Loan | Basic
Variable Loan | Line
Of Credit Loan
Fixed Rate Loan |
Construction Loan
| Low Doc Loan
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