Why should I choose a variable interest rate?

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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