Variable Home Loans

What is variable home loan?

A variable home loan interest rate can move up and down with market interest rates.

Variable home loan interest rates are determined by the cash rate set by the Reserve Bank of Australia. It is possible for the interest rate to increase or decrease outside the RBA rate changes. The cost of borrowing on the international money market can affect the variable interest rates and other factors including the national and international economy.


There Are Three Main Types of Variable Home Loans

The Basic Variable Home Loan
A basic variable home loan usually has a discounted interest rate and some have nothing or very low fees but in some cases can have more fees than the standard variable rate so it can pay to get advice.

The Standard Variable Home Loan
A standard variable rate is generally higher because of the additional options that apply to the loan. For example: Offset account, redraw and other options may be available.

Variable Home Loans

Listed below are some of the options that are available with different lenders


Additional Repayments


Offset account

Parental Leave

Salary Credit

Repayment Holiday

Internet Banking

Direct Debit

Split loan

The Professional Package Home Loan
A packaged home loan or a Professional Package offers discounts on the standard variable rate and other bank products for an annual fee. This often includes the ability to have fixed rate and variable rate loans, a credit card and bank accounts without any additional fees.

Some lenders have basic variable home loans that do cover most of the options without the additional fees.  We can help you identify what you need and the loan with the lender that offers this.

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