Standard Variable Home Loans

The most flexible home loan for the people of Perth, WA

The Standard Variable is the most common home loan. It is based on the housing market's variable rate of interest. Just as it is subject to rate rises this home loan can also provide you with interest rate decreases should the rate go drop during the year.

These home loans are the most flexible offering a range of features:

Additional Repayments

Additional repayments are not only permitted without penalty but encouraged, with features such as Direct Salary Crediting and Redraw.

Redraw

This feature gives you quick access to any additional payments you have made on your loan. Additional payments are those extra payments you make above the normal scheduled repayments. To access your additional funds, the redraw option needs to be available and activated on your home loan. You can transfer the funds from your home loan account into your transaction account; however, a redraw fee may apply in some cases.

Direct Salary Crediting

You can have your salary deposited direct into your home loan, thereby reducing your home loan balance and saving you interest. You can still draw on this money using the Redraw facility.

Offset

Use your savings account to save interest on your home loan. With an offset loan every dollar in your savings account is credited against your home loan. Every day that you have extra money in your savings account saves you interest on your home loan.

Portability

This is the ability to move your home loan as you move homes. It's convenient because you save the time and trouble of establishing a new loan and save on fees and other costs.

Payment Frequency

You can nominate to make your repayments weekly, fortnightly or monthly. The more frequently you make repayments, the more interest you will save over the life of your home loan.

Repayment Holidays

If you need a break from your loan repayments, you can access the repayment holiday option. To get access to this option you must build up extra funds in your loan account by making additional repayments. These extra funds are then used to meet your normal loan repayments while you take a break for a short time. A repayment holiday fee may apply.

Top Up

Extend the limit of your existing home loan. If you're planning things like renovations or an extension and you need extra funds, a top-up lets you increase the limit on your existing loan. This saves the time, hassle and expense of establishing another home loan.