Our database lists 284 products across 15 lenders. Variable mortgage rates range from 5.69% and 9.54% with varying fees.
Revisit this page weekly or bookmark it to learn the best variable mortgage rates available in Australia.
The table below shows the rates as of July 4, 2025 and may change at any time.
ANZ Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| ANZ BANK | ANZ Standard Variable Home Loan -LVR 80% or less Principal & Interest | N/A | 6.74% | 6.74% | 80% or less | |
| ANZ BANK | ANZ Standard Variable Home Loan - LVR more than 80% Principal & Interest | N/A | 6.94% | 6.94% | more than 80% | |
| ANZ BANK | ANZ Standard Variable Home Loan -Index Rate Principal & Interest | N/A | 8.14% | 8.14% | ||
| ANZ BANK | ANZ Standard Variable Home Loan -LVR 80% or less Interest Only | N/A | 7.29% | 6.92% | 80% or less | |
| ANZ BANK | ANZ Standard Variable Home Loan - LVR more than 80% Interest Only | N/A | 7.49% | 7.19% | more than 80% | |
| ANZ BANK | ANZ Standard Variable Home Loan -Index Rate Interest Only | N/A | 8.69% | 8.40% | ||
| ANZ BANK | ANZ Standard Variable Residential Investment loan - LVR 80% or less Principal & Interest | N/A | 7.34% | 7.34% | 80% or less | |
| ANZ BANK | ANZ Standard Variable Residential Investment loan -LVR more than 80% Principal & Interest | N/A | 7.54% | 7.54% | more than 80% | |
| ANZ BANK | ANZ Standard Variable Residential Investment loan - Index Rate Principal & Interest | N/A | 8.74% | 8.74% | ||
| ANZ BANK | ANZ Standard Variable Residential Investment loan - LVR 80% or less Interest Only | N/A | 7.59% | 7.45% | 80% or less | |
| ANZ BANK | ANZ Standard Variable Residential Investment loan -LVR more than 80% Interest Only | N/A | 7.79% | 7.65% | more than 80% | |
| ANZ BANK | ANZ Standard Variable Residential Investment loan - Index Rate Interest Only | N/A | 8.99% | 8.86% | ||
| ANZ BANK | Construction Home Loan Basic variable Principal & Interest | 5.94% | 5.95% | |||
| ANZ BANK | Construction Home Loan Standard variable with optional offset Principal & Interest | 6.74% | 6.74% | |||
| ANZ BANK | Construction Home Loan Standard variable with optional offset Interest Only | 7.29% | 6.98% | |||
| ANZ BANK | Construction Residential Investment Loan Basic variable Principal & Interest | 6.19% | 6.19% | |||
| ANZ BANK | Construction Residential Investment Loan Standard variable with optional offset Principal & Interest | 7.34% | 7.34% | |||
| ANZ BANK | Construction Residential Investment Loan Basic variable Interest Only | 6.59% | 6.36% | |||
| ANZ BANK | Construction Residential Investment Loan Standard variable with optional offset Interest Only | 7.59% | 7.45% |
Bank of Melbourne: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| BANK OF MELBOURNE | Basic variable home loan - Owner Occupier (Principal & Interest repayments) - LVR Up to 70% | 5.79% | 5.80% | $0.00 | Up to 70% | |
| BANK OF MELBOURNE | Basic variable home loan - Owner Occupier (Principal & Interest repayments) - LVR Above 70% up to 80% | 5.89% | 5.90% | $0.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Basic variable home loan - Owner Occupier (Principal & Interest repayments) - LVR Above 80% | 6.19% | 6.20% | $0.00 | Above 80% | |
| BANK OF MELBOURNE | Basic variable home loan - Owner Occupier (Interest Only) - LVR Up to 70% | 6.79% | 6.23% | $0.00 | Up to 70% | |
| BANK OF MELBOURNE | Basic variable home loan - Owner Occupier (Interest Only) - LVR Above 70% up to 80% | 6.89% | 6.33% | $0.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Basic variable home loan - Investor (Principal & Interest repayments) - LVR Up to 70% | 6.04% | 6.05% | $0.00 | Up to 70% | |
| BANK OF MELBOURNE | Basic variable home loan - Investor (Principal & Interest repayments) - LVR Above 70% up to 80% | 6.14% | 6.15% | $0.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Basic variable home loan - Investor (Principal & Interest repayments) - LVR Above 80% | 6.44% | 6.45% | $0.00 | Above 80% | |
| BANK OF MELBOURNE | Basic variable home loan - Investor (Interest Only) - LVR Up to 70% | 6.39% | 6.20% | $0.00 | Up to 70% | |
| BANK OF MELBOURNE | Basic variable home loan - Investor (Interest Only) - LVR Above 70% up to 80% | 6.49% | 6.30% | $0.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Basic variable home loan - Investor (Interest Only) - LVR Above 80% | 6.79% | 6.60% | $0.00 | Above 80% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Owner Occupier Loans (Principal & Interest repayments) - LVR up to 70%) | 5.89% | 6.27% | $600.00 | Up to 70% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Owner Occupier Loans (Principal & Interest repayments) - Above 70% up to 80% | 5.99% | 6.37% | $600.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Owner Occupier Loans (Principal & Interest repayments) - LVR Above 80% | 6.29% | 6.67% | $600.00 | Above 80% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Owner Occupier Loans (Interest Only) - LVR up to 70%) | 6.48% | 6.50% | $600.00 | Up to 70% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Owner Occupier Loans (Interest Only) - Above 70% up to 80% | 6.58% | 6.60% | $600.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Residential Investment Loans (Principal & Interest repayments) - LVR up to 70%) | 6.09% | 6.47% | $600.00 | Up to 70% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Residential Investment Loans (Principal & Interest repayments) - Above 70% up to 80% | 6.19% | 6.57% | $600.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Residential Investment Loans (Principal & Interest repayments) - LVR Above 80% | 6.49% | 6.86% | $600.00 | Above 80% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Residential Investment Loans (Interest Only) - LVR up to 70%) | 6.38% | 6.57% | $600.00 | Up to 70% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Residential Investment Loans (Interest Only) - Above 70% up to 80% | 6.48% | 6.66% | $600.00 | 70% up to 80% | |
| BANK OF MELBOURNE | Variable home loan with offset - New Residential Investment Loans (Interest Only) - LVR Above 80% | 6.78% | 6.96% | $600.00 | Above 80% |
Bank of Queensland: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| BANK OF QUEENSLAND | Economy Variable Home Loan - Owner Occupier - max 70% LVR + Principal and Interest | N/A | 5.63% | 5.78% | $300.00 | Max 70% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Owner Occupier - max 80% LVR ++ Principal and Interest | N/A | 5.63% | 5.78% | $300.00 | Max 80% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Owner Occupier - max 90% LVR +++ Principal and Interest | N/A | 5.84% | 5.99% | $300.00 | Max 90% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Owner Occupier - max 70% LVR + Interest only | N/A | 7.55% | 6.63% | $300.00 | Max 70% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Owner Occupier - max 80% LVR ++ Interest only | N/A | 7.55% | 6.63% | $300.00 | Max 80% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Owner Occupier - max 90% LVR +++ Interest only | N/A | 7.55% | 6.63% | $300.00 | Max 90% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Investor - max 70% LVR + Principal and Interest | N/A | 5.74% | 5.89% | $300.00 | Max 70% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Investor - max 80% LVR ++ Principal and Interest | N/A | 5.74% | 5.89% | $300.00 | Max 80% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Investor - max 90% LVR +++ Principal and Interest | N/A | 6.04% | 6.19% | $300.00 | Max 90% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Investor - max 70% LVR + Interest only | N/A | 5.89% | 5.95% | $300.00 | Max 70% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Investor - max 80% LVR ++ Interest only | N/A | 5.89% | 5.95% | $300.00 | Max 80% |
| BANK OF QUEENSLAND | Economy Variable Home Loan - Investor - max 90% LVR +++ Interest only | N/A | 6.24% | 6.10% | $300.00 | Max 90% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Owner occupier - max 80% LVR # Principal and Interest | N/A | 5.64% | 5.77% | $0.00 | Max 80% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Owner occupier - max 90% LVR ## Principal and Interest | N/A | 5.59% | 6.02% | $0.00 | Max 90% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Owner occupier - max 95% LVR ### Principal and Interest | N/A | 7.24% | 7.36% | $0.00 | Max 95% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Owner occupier - max 80% LVR # Interest only | N/A | 7.14% | 6.43% | $0.00 | Max 80% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Owner occupier - max 90% LVR ## Interest only | N/A | 7.39% | 6.54% | $0.00 | Max 90% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Investor - max 80% LVR # Principal and Interest | N/A | 5.79% | 5.92% | $0.00 | Max 80% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Investor - max 90% LVR ## Principal and Interest | N/A | 6.09% | 6.21% | $0.00 | Max 90% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Investor - max 95% LVR ### Principal and Interest | N/A | 7.34% | 7.46% | $0.00 | Max 95% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Investor - max 80% LVR # Interest only | N/A | 5.89% | 5.96% | $0.00 | Max 80% |
| BANK OF QUEENSLAND | Clear Path Variable Home Loan - Investor - max 90% LVR ## Interest only | N/A | 6.29% | 6.13% | $0.00 | Max 90% |
Bankwest: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Owner Occupied) - Up to 60% | N/A | 5.69% | 5.72% | $0.00 | Up to 60% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Owner Occupied) - 60.01% to 80% | N/A | 5.84% | 5.87% | $0.00 | 60%-80% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Owner Occupied) - 80.01% to 90% with LMI | N/A | 6.04% | 6.07% | $0.00 | 80%-90% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Owner Occupied) - 90.01% to 95% with LMI | N/A | 6.64% | 6.67% | $0.00 | 90%-95% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Owner Occupied) - 95.01% to 98% with LMI | N/A | 8.27% | 8.30% | $0.00 | 95%-98% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Investors) - Up to 60% | N/A | 5.94% | 5.97% | $0.00 | Up to 60% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Investors) - 60.01% to 80% | N/A | 5.99% | 6.02% | $0.00 | 60%-80% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Investors) - 80.01% to 90% with LMI | N/A | 6.39% | 6.42% | $0.00 | 80%-90% |
| BANKWEST | Variable Rate Home Loan/ Simple Home Loan (Investors) - 90.01% to 95% with LMI | N/A | 7.39% | 7.42% | $0.00 | 90%-95% |
| BANKWEST | Complete Variable Home Loan Package (Owner Occupied) - Up to 60% LVR | N/A | 5.69% | 6.09% | up to 60% | |
| BANKWEST | Complete Variable Home Loan Package (Owner Occupied) - 60.01% - 80% LVR | N/A | 5.84% | 6.24% | 6001% | |
| BANKWEST | Complete Variable Home Loan Package (Owner Occupied) - Up to 90% with LMI | N/A | 6.04% | 6.44% | Up to 90% | |
| BANKWEST | Complete Variable Home Loan Package (Owner Occupied) - 90.01% to 95% with LMI | N/A | 6.64% | 7.03% | 9001% | |
| BANKWEST | Complete Variable Home Loan Package (Owner Occupied) - 95.01% to 98% with LMI | N/A | 8.27% | 8.64% | 9501% | |
| BANKWEST | Complete Variable Home Loan Package (Investor) - up to 60% LVR | N/A | 5.94% | 6.34% | up to 60% | |
| BANKWEST | Complete Variable Home Loan Package (Investor) - 60.01% - 80% LVR | N/A | 5.99% | 6.39% | 6001% | |
| BANKWEST | Complete Variable Home Loan Package (Investor) - 80.01% - 90% LVR including LMI | N/A | 6.39% | 6.78% | 8001% | |
| BANKWEST | Complete Variable Home Loan Package (Investor) - 90.01% - 95% LVR including LMI | N/A | 7.39% | 7.77% | 9001% |
Bendigo Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| BENDIGO BANK | Complete Home Loan - Owner occupied variable principal and interest LVR ≤ 60% |
5.69% | 5.92% | ≤ 60% | ||
| BENDIGO BANK | Complete Home Loan - Owner occupied variable principal and interest LVR 60.01-80% |
5.79% | 6.02% | 6001% | ||
| BENDIGO BANK | Complete Home Loan - Owner occupied variable principal and interest LVR 80.01-90% |
6.04% | 6.26% | 8001% | ||
| BENDIGO BANK | Complete Home Loan - Owner occupied variable principal and interest LVR > 90% |
6.94% | 7.16% | > 90% | ||
| BENDIGO BANK | Complete Home Loan - Owner occupied variable interest only LVR ≤ 60% | 6.64% | 6.30% | ≤ 60% | ||
| BENDIGO BANK | Complete Home Loan - Owner occupied variable interest only LVR 60.01-80% | 6.94% | 6.49% | 6001% | ||
| BENDIGO BANK | Express Home Loan - variable principal and interest |
5.64% | 5.77% | |||
| BENDIGO BANK | Express Home Loan - variable interest only | 6.27% | 6.03% | |||
| BENDIGO BANK | Standard residential rate - Residential Variable Rate | 8.53% | 8.70% | |||
| BENDIGO BANK | Standard residential rate - Bendigo Express Residential Variable Rate | 8.53% | 8.65% | |||
| BENDIGO BANK | Standard residential rate - Residential Variable Interest Only Rate | 8.94% | 8.88% | |||
| BENDIGO BANK | Standard residential rate - Bendigo Express Residential Variable Interest Only Rate | 8.94% | 8.83% | |||
| BENDIGO BANK | Complete Home Loan - Investor variable principal and interest LVR ≤ 60% |
5.79% | 6.02% | ≤ 60% | ||
| BENDIGO BANK | Complete Home Loan - Investor variable principal and interest LVR 60.01-80% |
6.04% | 6.26% | 6001% | ||
| BENDIGO BANK | Complete Home Loan - Investor variable principal and interest LVR 80.01-90% |
6.19% | 6.41% | 8001% | ||
| BENDIGO BANK | Complete Home Loan - Investor variable interest only LVR ≤ 60% | 6.14% | 6.15% | ≤ 60% | ||
| BENDIGO BANK | Complete Home Loan - Investor variable interest only LVR 60.01-80% | 6.19% | 6.31% | 6001% | ||
| BENDIGO BANK | Express Home Loan - Investment variable principal and interest |
5.84% | 5.97% | |||
| BENDIGO BANK | Express Home Loan - Investment variable interest only | 5.97% | 6.01% |
Commonwealth Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Owner Occupied) - Standard Variable Rate with Wealth Package LVR 60% or below (with discount margin offer) | N/A | 5.84% | 6.22% | $0.00 | 60% or below |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Owner Occupied) - Standard Variable Rate with Wealth Package LVR 60.01% to 70% (with discount margin offer) | N/A | 5.89% | 6.27% | $0.00 | 6001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Owner Occupied) - Standard Variable Rate with Wealth Package LVR 70.01% to 80% (with discount margin offer) | N/A | 5.99% | 6.37% | $0.00 | 7001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Owner Occupied) - Standard Variable Rate with Wealth Package LVR 80.01% to 90% (with discount margin offer) | N/A | 6.29% | 6.67% | $0.00 | 8001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Owner Occupied) - Standard Variable Rate with Wealth Package LVR 90.01% to 95% (with discount margin offer) | N/A | 7.24% | 7.61% | $0.00 | 9001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Owner Occupied) - Standard Variable Rate without Wealth Package | N/A | 8.30% | 8.44% | $600.00 | |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Investment) - Standard Variable Rate with Wealth Package LVR 60% or below | N/A | 6.04% | 6.42% | $0.00 | 60% or below |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Investment) - Standard Variable Rate with Wealth Package LVR 60.01% to 70% (with discount margin offer) | N/A | 6.09% | 6.47% | $0.00 | 6001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Investment) - Standard Variable Rate with Wealth Package LVR 70.01% to 80% (with discount margin offer) | N/A | 6.19% | 6.57% | $0.00 | 7001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Investment) - Standard Variable Rate with Wealth Package LVR 80.01% to 90% (with discount margin offer) | N/A | 6.54% | 6.92% | $0.00 | 8001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Investment) - Standard Variable Rate with Wealth Package LVR 90.01% to 95% (with discount margin offer) | N/A | 7.34% | 7.71% | $0.00 | 9001% |
| COMMONWEALTH BANK | Standard Variable Rate Home Loan (Investment) - Standard Variable Rate without Wealth Package | N/A | 8.88% | 9.02% | $600.00 |
HSBC: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| HSBC | Standard Variable Rate Home Loan (Owner Occupiers) - Principal + Interest | 5.64% | 6.02% | $600 (or $0 with the Home Loan Package) | 60% or less | |
| HSBC | Standard Variable Rate Home Loan (Owner Occupiers) - Principal + Interest | 5.69% | 6.06% | $600 (or $0 with the Home Loan Package) | 60% - 70% | |
| HSBC | Standard Variable Rate Home Loan (Owner Occupiers) - Principal + Interest | 5.74% | 6.11% | $600 (or $0 with the Home Loan Package) | 70% - 80% | |
| HSBC | Standard Variable Rate Home Loan (Owner Occupiers) - Principal + Interest | 6.04% | 6.41% | $600 (or $0 with the Home Loan Package) | above 80% | |
| HSBC | Standard Variable Rate Home Loan (Owner Occupiers) - Interest only | 6.09% | 6.19% | $600 (or $0 with the Home Loan Package) | 80% or less | |
| HSBC | Standard Variable Rate Home Loan (Investor) - Principal + Interest | 5.84% | 6.21% | $600 (or $0 with the Home Loan Package) | 60% or less | |
| HSBC | Standard Variable Rate Home Loan (Investor) - Principal + Interest | 5.89% | 6.26% | $600 (or $0 with the Home Loan Package) | 60% - 70% | |
| HSBC | Standard Variable Rate Home Loan (Investor) - Principal + Interest | 5.94% | 6.31% | $600 (or $0 with the Home Loan Package) | 70% - 80% | |
| HSBC | Standard Variable Rate Home Loan (Investor) - Principal + Interest | 6.24% | 6.61% | $600 (or $0 with the Home Loan Package) | above 80% | |
| HSBC | Standard Variable Rate Home Loan (Investor) - Interest only | 6.09% | 6.35% | $600 (or $0 with the Home Loan Package) | 80% or less | |
| HSBC | Standard Variable Rate Home Loan (Investor) - Interest only | 6.39% | 6.64% | $600 (or $0 with the Home Loan Package) | above 80% |
ING Bank: Variable mortgage rates
There are currently no lenders offering these products at the moment.
Macquarie Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest | 5.64% | 5.66% | ≤ 60% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest Offset | 5.64% | 5.89% | ≤ 60% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest | 5.64% | 5.66% | ≤ 70% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest Offset | 5.64% | 5.89% | ≤ 70% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest | 5.69% | 5.71% | ≤ 80% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest Offset | 5.69% | 5.94% | ≤ 80% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest | 5.89% | 5.91% | ≤ 90% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest Offset | 5.89% | 6.14% | ≤ 90% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest | 6.69% | 6.72% | ≤ 95% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Principal and Interest Offset | 6.69% | 6.93% | ≤ 95% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Interest only | 5.90% | 5.92% | ≤ 60% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Interest only Offset | 5.90% | 6.15% | ≤ 60% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Interest only | 5.94% | 5.96% | ≤ 70% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Interest only Offset | 5.94% | 6.19% | ≤ 70% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Interest only | 6.04% | 6.06% | ≤ 80% | ||
| MACQUARIE BANK | Basic Home Loan -Owner occupied variable rates Interest only Offset | 6.04% | 6.29% | ≤ 80% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest | 5.74% | 5.76% | ≤ 60% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest Offset | 5.74% | 5.99% | ≤ 60% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest | 5.74% | 5.76% | ≤ 70% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest Offset | 5.74% | 5.99% | ≤ 70% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest | 5.84% | 5.86% | ≤ 80% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest Offset | 5.84% | 6.09% | ≤ 80% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest | 6.70% | 6.73% | ≤ 90% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Principal and Interest Offset | 6.70% | 6.94% | ≤ 90% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Interest only | 5.90% | 5.92% | ≤ 60% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Interest only Offset | 5.90% | 6.15% | ≤ 60% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Interest only | 5.94% | 5.96% | ≤ 70% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Interest only Offset | 5.94% | 6.19% | ≤ 70% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Interest only | 6.04% | 6.06% | ≤ 80% | ||
| MACQUARIE BANK | Home Loan - Investment variable rates Interest only Offset | 6.04% | 6.29% | ≤ 80% |
National Australia Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| NATIONAL AUSTRALIA BANK | Basic variable rate - Owner occupier (Principal and interest) | 5.94% | 5.98% | $0.00 | 70% | |
| NATIONAL AUSTRALIA BANK | Basic variable rate - Owner occupier (Interest Only) | 6.84% | 6.36% | $0.00 | 70% | |
| NATIONAL AUSTRALIA BANK | Basic variable rate - Residential investor (Principal and interest) | 6.46% | 6.50% | $0.00 | 70% | |
| NATIONAL AUSTRALIA BANK | Basic variable rate - Residential investor (Interest Only) | 7.17% | 6.81% | $0.00 | 70% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Owner Occupier (LVR 60% or less) | 6.29% | 6.38% | $0.00 | 60% or less | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Owner Occupier (LVR 60.01% - 70%) | 6.29% | 6.38% | $0.00 | 6001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Owner Occupier (LVR 70.01% - 80%) | 6.49% | 6.58% | $0.00 | 7001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Owner Occupier (LVR 80.01% or more) | 6.49% | 6.58% | $0.00 | 8001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only - Owner Occupier (LVR 60% or less) | 6.76% | 6.57% | $0.00 | 60% or less | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only - Owner Occupier (LVR 60.01% - 70%) | 6.76% | 6.57% | $0.00 | 6001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only - Owner Occupier (LVR 70.01% - 80%) | 6.96% | 6.77% | $0.00 | 7001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only - Owner Occupier (LVR 80.01% or more) | 6.96% | 6.77% | $0.00 | 8001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Residential Investor (LVR 60% or less) | 6.59% | 6.67% | $0.00 | 60% or less | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Residential Investor (LVR 60.01% - 70%) | 6.59% | 6.67% | $0.00 | 6001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Residential Investor (LVR 70.01% - 80%) | 6.79% | 6.87% | $0.00 | 7001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Principal and Interest - Residential Investor (LVR 80.01% or more) | 6.79% | 6.87% | $0.00 | 8001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only -Residential Investor (LVR 60% or less) | 6.79% | 6.76% | $0.00 | 60% or less | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only -Residential Investor (LVR 60.01% - 70%) | 6.79% | 6.76% | $0.00 | 6001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only -Residential Investor (LVR 70.01% - 80%) | 6.99% | 6.96% | $0.00 | 7001% | |
| NATIONAL AUSTRALIA BANK | Tailored variable rate with offset - Interest Only -Residential Investor (LVR 80.01% or more) | 6.99% | 6.96% | $0.00 | 8001% |
St. George Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| ST. GEORGE BANK | Basic variable home loan -Owner Occupier (Principal + Interest) LVR Up to 70% | 5.79% | 5.80% | $0.00 | Up to 70% | |
| ST. GEORGE BANK | Basic variable home loan -Owner Occupier (Principal + Interest) LVR Above 70% up to 80% | 5.89% | 5.90% | $0.00 | 70% up to 80% | |
| ST. GEORGE BANK | Basic variable home loan -Owner Occupier (Principal + Interest) LVR Above 80% | 6.19% | 6.20% | $0.00 | Above 80% | |
| ST. GEORGE BANK | Basic variable home loan - Investor (Principal + Interest) LVR Up to 70% | 6.04% | 6.05% | $0.00 | Up to 70% | |
| ST. GEORGE BANK | Basic variable home loan - Investor (Principal + Interest) LVR Above 70% up to 80% | 6.14% | 6.15% | $0.00 | 70% up to 80% | |
| ST. GEORGE BANK | Basic variable home loan - Investor (Principal + Interest) LVR Above 80% | 6.44% | 6.45% | $0.00 | Above 80% | |
| ST. GEORGE BANK | Basic variable home loan -Owner Occupier (Interest Only) LVR Up to 70% | 6.79% | 6.23% | $0.00 | Up to 70% | |
| ST. GEORGE BANK | Basic variable home loan -Owner Occupier (Interest Only) LVR Above 70% up to 80% | 6.89% | 6.33% | $0.00 | 70% up to 80% | |
| ST. GEORGE BANK | Basic variable home loan - Investor (Interest Only) LVR Up to 70% | 6.39% | 6.20% | $0.00 | Up to 70% | |
| ST. GEORGE BANK | Basic variable home loan - Investor (Interest Only) LVR Above 70% up to 80% | 6.49% | 6.30% | $0.00 | 70% up to 80% | |
| ST. GEORGE BANK | Basic variable home loan - Investor (Interest Only) LVR Above 80% | 6.79% | 6.60% | $0.00 | Above 80% | |
| ST. GEORGE BANK | Variable home loan with offset (New Owner Occupier Loans) - With LVR up to 70% | 5.89% | 6.27% | $600.00 | up to 70% | |
| ST. GEORGE BANK | Variable home loan with offset (New Residential Investment Loans) - With LVR up to 70% | 6.09% | 6.47% | $600.00 | up to 70% | |
| ST. GEORGE BANK | Variable home loan with offset (New Owner Occupier Loans) - With LVR up to 70% Interest Only | 6.48% | 6.50% | $600.00 | up to 70% | |
| ST. GEORGE BANK | Variable home loan with offset (New Residential Investment Loans) - With LVR up to 70% Interest Only | 6.49% | 6.47% | $600.00 | up to 70% |
Suncorp Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable <=60% LVR) - Personal/Owner | 5.70% | 6.06% | $600.00 | <=60% | |
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable 60.01 - 70% LVR) - Personal/Owner | 5.75% | 6.11% | $600.00 | 6001% | |
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable 70.01 - 80% LVR) - Personal/Owner | 5.76% | 6.12% | $600.00 | 7001% | |
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable 80.01 - 90% LVR) - Personal/Owner | 6.04% | 6.39% | $600.00 | 8001% | |
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable <=60% LVR) - Investment | 5.94% | 6.30% | $600.00 | <=60% | |
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable 60.01 - 70% LVR) - Investment | 5.94% | 6.30% | $600.00 | 6001% | |
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable 70.01 - 80% LVR) - Investment | 5.95% | 6.31% | $600.00 | 7001% | |
| SUNCORP BANK | Home Package Plus - Principal and Interest (Standard Variable 80.01 - 90% LVR) - Investment | 6.59% | 6.94% | $600.00 | 8001% | |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable <=60% LVR) - Personal/Owner | N/A | 6.34% | 6.30% | $600.00 | <=60% |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable <=70% LVR) - Personal/Owner | N/A | 6.35% | 6.34% | $600.00 | <=70% |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable <=80% LVR) - Personal/Owner | N/A | 6.45% | 6.38% | $600.00 | <=80% |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable 80.01 - 90% LVR) - Personal/Owner | N/A | 6.99% | 6.78% | $600.00 | 8001% |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable <=60% LVR) - Investment | N/A | 6.05% | 6.32% | $600.00 | <=60% |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable <=70% LVR) - Investment | N/A | 6.05% | 6.32% | $600.00 | <=70% |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable 70.01 - 80% LVR) - Investment | N/A | 6.09% | 6.34% | $600.00 | <=80% |
| SUNCORP BANK | Home Package Plus - Interest Only (Standard Variable 80.01 - 90% LVR) - Investment | N/A | 6.59% | 6.91% | $600.00 | 8001% |
| SUNCORP BANK | Home Package Plus - First Home Buyer (Standard Variable <=95% LVR) - Principal and Interest | N/A | 6.24% | 6.59% | $990.00 | <=95% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner <=60% LVR) - Principal and Interest | N/A | 5.64% | 5.65% | $600.00 | <=60% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner <=60% LVR) - Interest Only | N/A | 6.24% | 5.90% | $600.00 | <=60% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner 60.01 - 70% LVR) - Principal and Interest | N/A | 5.65% | 5.66% | $600.00 | 6001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner 60.01 - 70% LVR) - Interest Only | N/A | 6.25% | 5.91% | $600.00 | 6001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner 70.01 - 80% LVR) - Principal and Interest | N/A | 5.65% | 5.66% | $600.00 | 7001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner 70.01 - 80% LVR) - Interest Only | N/A | 6.35% | 5.95% | $600.00 | 7001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner 80.01 - 90% LVR) - Principal and Interest | N/A | 5.89% | 5.90% | $600.00 | 8001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner 80.01 - 90% LVR) - Interest Only | N/A | 6.84% | 6.30% | $600.00 | 8001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Personal / Owner 90.01 - 95% LVR) - Principal and Interest | N/A | 6.84% | 6.84% | $990.00 | 9001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment <=60% LVR) - Principal and Interest | N/A | 5.84% | 5.85% | $600.00 | <=60% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment <=60% LVR) - Interest Only | N/A | 5.95% | 5.89% | $600.00 | <=60% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment 60.01 - 70% LVR) - Principal and Interest | N/A | 5.85% | 5.86% | $600.00 | 6001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment 60.01 - 70% LVR) - Interest Only | N/A | 5.95% | 5.90% | $600.00 | 6001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment 70.01 - 80% LVR) - Principal and Interest | N/A | 5.85% | 5.86% | $600.00 | 7001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment 70.01 - 80% LVR) - Interest Only | N/A | 6.00% | 5.92% | $600.00 | 7001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment 80.01 - 90% LVR) - Principal and Interest | N/A | 6.34% | 6.35% | $600.00 | 8001% |
| SUNCORP BANK | Better Together Offer - Back to Basics Variable (Investment 80.01 - 90% LVR) - Interest Only | N/A | 6.34% | 6.34% | $600.00 | 8001% |
| SUNCORP BANK | Standard Variable (≤95% - LVR) - Owner Occupied loans with Principal and Interest Repayment | N/A | 8.73% | 8.91% | $990.00 | ≤95% |
| SUNCORP BANK | Standard Variable (≤90% LVR) - Owner Occupied loans with Interest Only Repayments | N/A | 8.90% | 8.95% | $600.00 | ≤90% |
UBank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| UBANK | Neat variable (Up to 60% LVR) - Owner Occupied - Principal and interest (P&I) | 5.64% | 5.66% | Up to 60% | ||
| UBANK | Neat variable (Up to 70% LVR) - Owner Occupied - Principal and interest (P&I) | 5.64% | 5.66% | Up to 70% | ||
| UBANK | Neat variable (Up to 80% LVR) - Owner Occupied - Principal and interest (P&I) | 5.69% | 5.71% | Up to 80% | ||
| UBANK | Neat variable (Up to 85% LVR) - Owner Occupied - Principal and interest (P&I) | 5.99% | 6.01% | Up to 85% | ||
| UBANK | Neat standard variable rate | 7.50% | 7.52% | |||
| UBANK | Neat variable (Up to 60% LVR) - Investor - Principal and interest (P&I) | 5.74% | 5.76% | Up to 60% | ||
| UBANK | Neat variable (Up to 70% LVR) - Investor - Principal and interest (P&I) | 5.79% | 5.81% | Up to 70% | ||
| UBANK | Neat variable (Up to 80% LVR) - Investor - Principal and interest (P&I) | 5.84% | 5.86% | Up to 80% | ||
| UBANK | Neat Standard Variable Investment Rate | 7.75% | 7.77% | |||
| UBANK | Neat variable (Up to 60% LVR) - Investor - Interest only (IO) | 5.94% | 5.84% | Up to 60% | ||
| UBANK | Neat variable (Up to 70% LVR) - Investor - Interest only (IO) | 5.99% | 5.89% | Up to 70% | ||
| UBANK | Neat variable (Up to 80% LVR) - Investor - Interest only (IO) | 5.99% | 5.92% | Up to 80% | ||
| UBANK | Neat Standard Variable Investment Interest Only Rate | 8.20% | 7.97% | |||
| UBANK | Flex variable (Up to 60% LVR) - Owner Occupied - Principal and interest (P&I) | 5.64% | 5.89% | Up to 60% | ||
| UBANK | Flex variable (Up to 70% LVR) - Owner Occupied - Principal and interest (P&I) | 5.64% | 5.89% | Up to 70% | ||
| UBANK | Flex variable (Up to 80% LVR) - Owner Occupied - Principal and interest (P&I) | 5.69% | 5.94% | Up to 80% | ||
| UBANK | Flex variable (Up to 85% LVR) - Owner Occupied - Principal and interest (P&I) | 5.99% | 6.23% | Up to 85% | ||
| UBANK | Flex standard variable rate (Standard base rate referenced in our loan contracts) | 7.65% | 7.88% | |||
| UBANK | Flex variable (Up to 60% LVR) - Owner Occupied - Interest only (IO) | 5.94% | 5.99% | Up to 60% | ||
| UBANK | Flex variable (Up to 70% LVR) - Owner Occupied - Interest only (IO) | 5.99% | 6.01% | Up to 70% | ||
| UBANK | Flex variable (Up to 80% LVR) - Owner Occupied - Interest only (IO) | 6.04% | 6.06% | Up to 80% | ||
| UBANK | Flex Standard Variable Interest Only Rate (Standard base rate referenced in our loan contracts) | 8.25% | 8.14% | |||
| UBANK | Flex variable (Up to 60% LVR) - Investor- Principal and interest (P&I) | 5.74% | 5.98% | Up to 60% | ||
| UBANK | Flex variable (Up to 70% LVR) - Investor- Principal and interest (P&I) | 5.79% | 6.03% | Up to 70% | ||
| UBANK | Flex variable (Up to 80% LVR) - Investor- Principal and interest (P&I) | 5.84% | 6.08% | Up to 80% | ||
| UBANK | Flex Standard Variable Investment Rate | 7.90% | 8.12% | |||
| UBANK | Flex variable (Up to 60% LVR) - Investor - Interest only (IO) | 5.94% | 6.05% | Up to 60% | ||
| UBANK | Flex variable (Up to 70% LVR) - Investor - Interest only (IO) | 5.99% | 6.10% | Up to 70% | ||
| UBANK | Flex variable (Up to 80% LVR) - Investor - Interest only (IO) | 5.99% | 6.13% | Up to 80% | ||
| UBANK | Flex Standard Variable Investment Interest Only Rate | 8.35% | 8.32% |
Westpac Bank: Variable mortgage rates
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| WESTPAC BANK | Basic variable rate home loan (with LVR+ up to 70%) - Owner Occupier/ Principal and Interest | 6.19% | 6.20% | $0.00 | Up to 70% | |
| WESTPAC BANK | Basic variable rate home loan (with LVR+ up to 70%) - Owner Occupier/ Interest Only | 7.89% | 6.94% | $0.00 | Up to 70% | |
| WESTPAC BANK | Basic variable rate home loan (with LVR+ up to 70%) - Investor / Principal and Interest | 6.49% | 6.49% | $0.00 | Up to 70% | |
| WESTPAC BANK | Basic variable rate home loan (with LVR+ up to 70%) - Investor / Interest Only | 6.99% | 6.84% | $0.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Owner Occupier / Principal and Interest (with Premier Advantage Package) | 6.14% | 6.51% | $0.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Owner Occupier / Principal and Interest (without Package) | 8.48% | 8.61% | $600.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Owner Occupier / Interest Only (with Premier Advantage Package) | 6.73% | 6.74% | $0.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Owner Occupier / Interest Only (without Package) | 9.07% | 8.88% | $600.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Investor / Principal and Interest (with Premier Advantage Package) | 6.34% | 6.71% | $0.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Investor / Principal and Interest (without Package) | 9.03% | 9.16% | $0.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Investor / Interest Only (with Premier Advantage Package) | 6.60% | 6.84% | $0.00 | Up to 70% | |
| WESTPAC BANK | Variable home loan with offset (with LVR+ up to 70%) - Investor / Interest Only (without Package) | 9.29% | 9.34% | $600.00 | Up to 70% | |
| WESTPAC BANK | Flexi First Option Home Loan -- Basic variable |
N/A | N/A |
Variable mortgage rates FAQs
What is a variable mortgage rate?
A variable home loan rate is an interest rate on a home loan that can change over time. The changeability of the rate is influenced by several factors. Below is a simple guide about this type of rate:
How do variable mortgage rates work?
- fluctuating interest rates: variable interest rates can rise or fall, affecting your monthly repayments
- influencing factors: standard variable rates are influenced by the Reserve Bank of Australia's official cash rate which may be boosted by inflation and other factors
- flexibility: borrowers can benefit from lower repayments when rates decrease, but face higher repayments if rates increase
How are variable mortgage rates calculated?
Variable mortgage rates depend on how much you owe, the interest rate, and the days in a year. If you owe $150,000 with an interest rate of 4%:
- daily interest: is calculated as $150,000 x 0.04 / 365, which equals $16.44 per day
- monthly interest: multiply daily interest by the number of days in the month to find your monthly payment
You can also use variable mortgage rate calculators that are available online or talk to your lender or mortgage adviser.
Additional features
Variable mortgage rates often come with additional features such as:
- extra repayments: the ability to make extra repayments without penalties, which can help reduce the loan balance faster
- redraw facilities: access to funds that have been paid more than the minimum repayment amount
Variable mortgage rates offer flexibility and potential cost savings, but they also carry the risk of increased repayments if interest rates rise. It's essential for borrowers to stay informed about economic factors that may impact their mortgage rate.
Is it worth getting a variable rate mortgage?
Variable mortgage rates can offer various benefits that may make them worth considering. These loans typically start with lower interest rates compared to fixed-rate mortgages, providing immediate savings.
- potential for lower rates: interest rates on variable mortgages can decrease, leading to reduced payments
- lower initial costs: initial interest rates are usually lower than fixed rates, resulting in less interest paid at the beginning
- versatile nature: variable rate loans often come with more flexible repayment terms and features
- unlimited repayments: you can make unlimited additional repayments without incurring break costs
- offset account: these loans typically allow for an offset account, which helps reduce interest charges
A variable mortgage rate can be beneficial if you expect interest rates to fall or if you want the flexibility to make extra repayments. These features can help you pay off your mortgage sooner and save on interest over time.
The suitability of a variable mortgage rate depends on your financial situation and goals. If you can handle potential rate increases and want more flexible loan features, a variable rate mortgage may be a good fit.
Does the Big 4 have good variable mortgage rates?
ANZ, CBA, NAB, and Westpac are key players in Australia's mortgage market and are known as the Big 4. These banks offer reliable services and a range of features, making them a popular choice for many borrowers but may offer less competitive rates. When considering variable home loan rates, Big 4 banks’ reliability and comprehensive options can be worth the potentially higher rates.
Overall benefits of choosing a variable mortgage rate
Variable mortgage rates can offer several advantages, such as lower initial payments, flexibility, and potential interest savings. It’s important to evaluate your financial circumstance and market conditions to determine if a variable rate mortgage is right for you.
Research or talk to a mortgage broker to find out the best variable home loan rates in Australia.
What is the disadvantage of a variable mortgage?
A significant disadvantage of variable mortgage rates is the uncertainty in monthly repayments. As rates fluctuate, borrowers may face financial strain due to unexpected increases. Key disadvantages of variable home loan rates include:
- unpredictable repayments: monthly payments can rise if interest rates increase
- rate fluctuations: lenders can adjust variable rates at any time
- cash flow uncertainty: the lack of predictability requires borrowers to have flexible cash flow management
- stress: rate hikes can cause financial stress
- need for a financing cushion: borrowers need to maintain a cash reserve to manage potential increases in loan repayments
- income dependency: managing variable rates effectively often depends on having a stable or rising income
Factors driving rate changes
Rates are influenced by market conditions and changes in a bank's funding costs, including interbank lending rates and investor demands.
Overall drawbacks of choosing variable home loan rates
The primary disadvantage of variable mortgage rates is the potential for increased repayments due to rate rises, leading to cash flow uncertainty and financial stress. Try to keep up with the latest interest rates’ movements or contact a mortgage broker to stay informed.
Is it better to go fixed or variable rate?
Deciding between a fixed or variable mortgage rate depends on your financial situation and risk tolerance. Each option has unique characteristics that may suit different needs.
Key differences between variable and fixed mortgage rates
Fixed rate home loans
- set interest rate: the rate remains constant for a specified period, usually 1 to 5 years
- budget certainty: fixed rates provide predictable repayments, aiding in financial planning
- no benefit from rate drops: you will not gain from potential decreases in interest rates
Variable rate home loans
- fluctuating rates: rates can change based on market conditions and the RBA’s cash rate
- potential for lower rates: if rates drop, your repayments may decrease
- features: variable loans often offer offset accounts and redraw facilities
Switching between rates
- fixed to variable: switching from a fixed to a variable rate can incur break costs if done before the fixed term ends
- variable to fixed: changing from a variable to a fixed rate is usually simpler, though other fees and charges may apply
Whether a fixed or variable mortgage rate is better depends on your need for stability versus flexibility and your comfort with potential rate fluctuations. Learn about Australia’s historical mortgage rates and assess your financial goals and risk tolerance. These may help you predict and prepare for potential rate increases.
