In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Standard Variable Rate
A standard variable rate is a rate that will go up and down over time, which means your repayments may change over the life of your loan. Your lender determines your standard variable rate (SVR) but these are often influenced by the broader financial market including the RBA (Reserve Bank of Australia) and the economy.
Standard variable rate loans are the most popular mortgage product in Australia, with almost half of all borrowers opting for this type of mortgage.
If you are on a fixed rate, once it expires your will automatically roll over to the latest standard variable rate. It is worth asking your broker to review the rate once it does, they should be able to get you a better deal.
Recently you can expect that unless you've already fixed your home loan, your interest rates will go up. All four major banks notified customers that they will be raising variable rates in line with the cash rate, and other lenders will most likely follow suit. Variable rates are often capped, but the caps can be as high as 25%.
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