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Variable Home Loans in Brisbane

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    Flexible Variable Home Loans in Brisbane

    Variable home loans offer scope for flexible options in the rate of interest with fluctuations depending on the movement of RBA or other market conditions. If interest rates rise or fall, so does your repayment amount. That means, at times when it's low, you will pay less for mortgage repayments, but be prepared to swallow some of those rate hikes that will increase the repayment amounts.

     

    Variable home loans are suitable for borrowers who do not mind some uncertainty and need flexibility through making extra payments or taking advantage of features of variable offset home loans or redraw facilities. These types of home loans are particularly suited to those seeking more control over their finances, given that they can cope with monthly repayments going up and down from time to time.

     

    Brisbane Home Loans is your solution for a wide range of variable mortgage loans intended to answer different needs. Whether you are buying, refinancing, or simply investing in a new property. Our brokers keep close communication with you to make the most effective comparisons on rate, feature, and repayment options using leading Australian lenders to get the most out of your basic variable home loan.

     

    Variable Home Loans Brisbane

    Key Features of a Variable Home Loan

    Flexible Interest Rates:

    As market rates move, your interest rate adjusts to your repayments can rise or fall. In a falling market environment, you will enjoy lower repayments; your repayments will increase in a rising market environment. That flexibility may save you thousands over the life of a loan.

    Extra Repayments Allowed:

    The basic variable home loan gives you a chance to make extra repayments without penalty. That way, you can settle the loan much faster, saving money on interest. Example: You receive a bonus or lump sum payment. You put that money towards your loan. This step shortens your loan term and saves you a lot of money in the long run.

    Redraw Facility:

    Most variable mortgage loans have a redraw facility. This process allows you to withdraw any extra payments you’ve made if you need to draw them in the future. In this respect, adding a redraw facility to your loan puts flexibility at your disposal and, in any emergency or financial commitment, will ensure that extra payments may be drawn from your account. Hence, you are better in control of your cash flow.

    Flexible Interest Rates:

    A variable offset home loan is another strong feature of variable home loans. It works on the principle of offsetting your loan balance with the balance of your offset account. Assume you have $50,000 in the offset account and a loan of $300,000. Now, $50,000 is offset against the loan balance of $300,000. Now, the bank will charge interest only on $250,000. These savings on interest then speed up your loan pay-off and reduce the total amount of interest paid over the life of your loan.

    Variable Home Loans Brisbane

    Benefits

    • Flexibility: Variable home loans offer a more flexible repayment option. You can make additional repayments without charges, which will help you pay off earlier and save on interest in the future.
    • Benefits from Rate Cuts: When the rates decline, your repayments decline. Hence, you decrease loan repayments over time, which gives you the upper hand financially. Additionally, a variable offset mortgage can help reduce interest costs even further by utilising an offset account to lower the loan balance on which interest is calculated.

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    Consequences

    • Unpredictability: A variable mortgage loan may rise unpredictably, expanding your payments and possibly striking your budget due to these fluctuations. Hence, its vagueness makes it uncertain to control the monthly cash inflow.
    • Changes in rates: If rates increase sharply, your total interest payments will dramatically increase compared to what you may have budgeted for repayment. Ultimately, such increases can impact your long-term financial stability. This can especially affect borrowers with a basic variable home loan, as they must manage the changing rates while ensuring flexibility.
    Variable Home Loans Brisbane

    Customers Testimonials

    Customers Testimonials

    It was Our First Home and We had No Idea. Thanks to The Team From Brisbane Home Loans
    Daniel and the team at Brisbane Home Loans were super helpful and friendly to me as it was my first home loan and I had no idea! They answered all my questions and were very hardworking. Would definitely recommend to a friend.

    Tom Harvey

    They Made Buying Our First Home Easy and Fun. Thanks
    The team at Brisbane Home loans have been super helpful and extremely professional to assist us with all our first home questions. will be recommending them to everyone I know looking to buy!

    Nathan Cook

    Thanks for Helping me Turn my Dream into a Reality
    Service was great, very informative and kept me up to date on all progress and all steps. Follow up after it was all done and dusted was also great. Took the stress out of it which was a great help for my busy life. I would totally recommend Dan and Jordan to anyone.

    Emma Schefe

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