Variable rate loans

  • Most common loans
  • Repayments change with interest rates
  • Flexible loan features offered
  • Can pay off loan sooner

Standard Variable Rate Home Loans (Principal and Interest)

  • A standard variable loan is the most common loan for those wanting some flexibility. They are suitable if you are planning to make extra payments in order to pay off your mortgage more quickly. They usually have more loan features available such as equity redraw facility or loan off-set accounts. such as equity redraw facility or loan off-set accounts.
  • Benefits:

    • Repayments fall when official interest rates fall
    • Usually have additional features such as equity redraw, off-set account
    • May have special introductory (honeymoon) rates in the first year
    • Generally no penalty fees apply if you make extra repayments


    • Interest rates will increase if official rates increase
    • Generally will have a higher rate of interest than a Basic Variable Loan

    Basic Variable Rate Home Loans (Principal and Interest)

    A basic variable loan generally has fewer loan features than a standard variable loan. Basic variable loans are suitable if you are looking to pay off a regular amount over the full term of the loan, but are not as suitable if you are looking to pay off your mortgage quickly or need flexible extras.


    • Repayments fall when official interest rates fall
    • Rate is generally the lowest rate available


    • Limited features (ie no access to equity redraw or off-set accounts)
    • Whilst extra payments may be made additional penalty fees may apply
    • Interest rates will increase if official rates increase

    Use our 'How much can I Borrow' calculator to get a quick idea of your borrowing capacity, and then contact one of our professional Time Finance Mortgage Brokers to get a full understanding of your borrowing ability.

    With hundreds of different loan products in the market from all lenders, it can be a daunting time to go shopping for a home loan if you are doing it yourself or don't know what to look for. The benefits of why you should use a professional Time Finance Mortgage Broker are guaranteed.

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    Depends on the size of your deposit, the value of the property, and your servicing capacity (based on your income and how much you are able to repay).


    Most mortgage lenders will require a deposit of 20% or more of the property price. Less may be required however will require mortgage guarantee insurance in most cases


    Depends on the type of loan, intrerestr rate, payment term, and whether you pay monthly or fortnighly. Use us mortgage calculators to guide you.


    Every state is different and may depend on the value, whether you are building or buying an established home. Read more in our FHOG article


    It is a rate that includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure that lets you compare loans from differengt lenders on a fair comparison.


    This 'in principle approval' is usually valid for 3 months. Gives you the confidence on how much you can borrow before your purchase a property.


    The cost of Stamp Duty varies between States and Territories. Subject to your personal loan circumstances, the cost of stamp duty can be included in the loan amount you borrow.

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