Your Local Mortgage Broker in Sale, Gippsland

When it comes to securing a mortgage, the choice between basic variable rate loans and standard variable rate loans can significantly impact your financial journey. At Gippsland Mortgage Solutions, we’re here to guide you through the options, ensuring you make the right choice for your needs.

Basic variable rate loans are renowned for their competitive interest rates, making them an attractive option for many homeowners. With fewer features compared to standard variable rate loans, they offer simplicity and flexibility, allowing you to focus on what truly matters – building your future.

One of the key advantages of basic variable rate loans is their fluctuating interest rates and loan repayments throughout the loan term. While this may seem daunting, it also means you have the potential to benefit from lower interest rates in a changing market environment.

Advantages:

  • Relatively low interest rates
  • Lower repayments
  • Redraw facilities often provided
  • Extra repayments allowed

Disadvantages:

  • Many basic variable rate loans do not offer the same flexibility or features as other variable loans
  • Generally, don’t have an offset account

Download our ‘Which Home Loan’ brochure (pdf) for more tips and general information.

At Gippsland Mortgage Solutions, we understand that flexibility is essential. That’s why basic variable rate loans often come with the option to pay for additional features, tailoring your mortgage to suit your specific needs and preferences.

With our expert guidance and personalized service, navigating the intricacies of basic variable rate loans becomes seamless and stress-free. Let us help you unlock the potential of basic variable rate loans and take the next step towards achieving your homeownership goals.