Basic variable loan
Lenders now offer basic variable loans with lower interest rates, but with fewer features than a standard variable loan. The interest rates and repayments vary over the term of the loan.
Pros:
- Usually have a low interest rate
- Repayments are also lower
Cons:
- May not offer the features or flexibility of other loans (not portable)
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August 1, 2021 at 1:36 PM