Home Loan Floating rate

A Floating Rate or Variable Rate Loan is where banks/lenders can, at any time, either increase or decrease the rate for this type of loan, which will mean your loan repayments will go up or down depending on the movement. 

Examples of when a floating rate term may suit your goals or needs

• Would like the flexibility of making lump sum payments without penalty fees.

• Expecting to pay off this loan in the very near future e.g from an inheritance, sale of an asset, bonus

• Waiting to see what the home loan market will do in respect to fixed rates e.g foresee rates to drop and want the option to fix immediately without penalty fees.

• Ability to increase your loan repayments and then decrease back to the minimum at a given point of time without penalty fees. e.g working overtime through a certain period and want to pay off home loan faster during this time.

FLOATING (Variable) RATES

Here you can compare the "advertised" owner occupied home loan rates against the banks listed below.

You will note I have used the term "advertised", that's because in most cases we can get the banks to offer lower rates and for new lending you may also qualify for cash too!

Last updated Monday 3 October 2022, 12.24pm.

*Special Rates come with terms and conditions. e.g available for owner occupied home loans with at least 20% equity/ deposit and in some cases apply to Welcome Home Loan customers with up to 10% deposit. 

**Standard Rates generally apply to owner occupied borrowing with less than 20% deposit/ equity or for residential investment lending.