Standard variable loans are Australia’s most common form of home loan, with the interest rate varying over the loan period and between lenders. Generally, these loans provide outstanding stability, minimal costs and also provide great features like compensation facilities, refurbishment facilities, no annual interest caps and, in most cases, no early payment penalty.
- Lump-sum payments can be made without incurring a penalty.
- If interest rates fall, your repayments will fall.
- Often offer extra features.
- If interest rates rise, your repayments will increase.