The interest rates on these loans vary at any time depending on the market forces, and the features vary depending on the lender.

However, these loans generally offer an offset facility, redraw facility, no limits on additional repayments, and in most cases no early pay-out penalties.

A Standard Variable Loan can usually be combined with other types of loans, and are ideal for the borrower wishing to repay their home loan sooner rather than later

Fixed rate loans are funds lent over a set term with a set interest rate. This allows the borrower to know exactly what their monthly repayments will be should their circumstances change.

Some lenders may impose early repayment penalties if lump sum reductions are made to your loan, or you pay the loan out in full. However, a fixed rate loan is ideal in a rising interest rate market as this guarantees you of your interest rate repayments for a set time

This is available to borrowers who wish to purchase a new home now, and sell your current home later. The interest rate is usually the same as a Standard variable loan.

A tideover finance loan ensures that the borrower will not miss out on a desired property because they haven’t sold their current home.

A line of credit provides the borrower with access to the equity in their home or investment properties whenever they wish. It is similar to an overdraft facility in that the funds can be drawn up to the original loan approved at any time.

The interest rate on such a facility is usually a variable rate that fluctuates with the market. A line of credit provides a borrower with easy access to funds ensuring peace of mind in times of need.