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Standard Variable Rate Home Loans

Standard variable rate home loans are the most popular home loan product in Australia. The key feature of standard variable home loans is that their interest rate can increase or decrease, meaning your repayment amounts can increase or decrease throughout the term (life) of your loan. They are the most flexible loan type in the market and typically come with a broad range of features to choose from.

Standard Variable Rate Home Loans

Standard Variable Home Loan Advantages

  • Your repayment amounts will decrease if your lender adjusts its interest rate downwards (this could happen for several reasons).
  • Extra repayments are allowed, which can reduce length and cost of your mortgage.
  • Standard variable home loans typically have the largest suite of features available
  • Flexible by nature.
  • Near enough every lender offers a standard variable rate home loan product, giving you the largest range of lenders to select from, compared to any other home loan type.

Standard Variable Home Loan Disadvantages

  • Your repayment amounts will increase if your lender adjusts its interest rate upwards (this could happen for several reasons).
  • Slightly higher interest rates than their Basic home loan cousins due to them having more features available.

Most Suitable For

Pretty much anyone, which it is why variable rate home loans are Australia's most popular home loan type.

Want to talk more about your home loan options?

If yes, then please get in touch with me today and I'll be happy to help. All my home loan and mortgage services (from the initial meeting, right through to home loan settlement) are completely free to you.

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