Resources: Home Loan Types
Basic Home Loans
One of the most popular home loans. Commonly called ‘No Frills Loans' with rates that are generally cheaper than the Standard Variable Rate. They have very limited features and less flexibility than a Standard Variable Rate
Advantages
- Regular repayments are great for budgeting.
- A rate that is always amongst the lowest.
- Normally extra repayments are allowed.
Disadvantages
- Money held in normal savings accounts will not reduce your mortgage rates.
- The interest rate is variable and as rates rise so does repayments.
- Features such as redraw may not be available.
To check out the latest Basic home loan rates click here.
Let a ratesonline broker contact you about Basic Home Loan.
