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Standard Variable
Just as the name says this is the standard loan product
with a variable interest rate. The interest rate on
this loan varies with the economic climate of the time.
The variance is generally a reflection of the official
Reserve Bank rates.
This type of mortgage is one of the most flexible loan
types, it can apply to a wide spectrum of loan situations.
In most cases, Variable loans will enable you to offset
your loan, make additional repayments with out penalty
and redraw, which may help you to finalise your loan
earlier and on most occasions is less likely to incur
penalties.
Most lending institution will have a Standard Variable
Rate product which is what all of their other loan products
are compared to.
Standard
Variable Loan | Basic
Variable Loan | Line
Of Credit Loan
Fixed Rate Loan |
Construction Loan
| Low Doc Loan
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