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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