Pros and cons of choosing a variable interest rate?
Pros
Typically offers more flexibility than a Fixed Interest Home Loan
You can make unlimited additional repayments to pay off your Home loan faster
Redraw is usually available meaning you have access to additional fund sitting in your redraw
Offset accounts where additional money can be placed and reduced the interest you pay
Easier to switch Loans or get a better deal
Cons
Interest rates can change at anytime
More loan features so could cost more
Have questions or need more Information contact Julie on 0437 095 312 at Greater Geelong Finance to work through your options together.
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