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Standard Variable & Fixed Rate Loans

When you are choosing between home loans, you will have to make the choice between a fixed rate home loan and a variable rate home loan. Each has its pros and cons, and making the right choice will depend on your needs, your goals, your finances and the state of the home loans market.

Variable Rate Home Loans

The interest rate on a variable rate home loan is not fixed at any set rate, instead it changes according to the lender’s standard variable rate. The lender’s standard variable rate changes according to the official cash rate, the competition in the market, and what the lender is willing to offer.

If you choose a variable rate home loan, the interest rate on your loan could go up – meaning you will pay more on your home loan – or it could go down – making your home loan cheaper.

When you are comparing variable rate home loans, be sure to compare the interest you will pay. Just bear in mind that the rate you see is subject to change.

Fixed Rate Home Loans

The interest rate on a fixed rate home loan is fixed at a certain rate for a certain period of time. Fixed rate home loans are usually available over one, three, five or seven years, however, different lenders offer different options.

With a fixed rate home loan, you will know exactly how much your repayment will be each month, helping you to budget more effectively. It can also help you to lock in a good rate if standard variable rates are on the rise.

On the other hand, fixed rate loans don’t allow you to benefit when standard variable rates fall, and if you want to get out of the loan to refinance to another loan, you may have to pay a fee.

Why choose Lend Me?

When you choose Lend Me, you are not alone. Your Lend Me Mortgage Broker will make the home loan process as easy as possible, helping you to work out what you need, compare home loans, and then helping you through the often complicated application process.

When we search for home loans, we cut out that time-consuming search for you. We search hundreds of home loans on the market, from smaller lenders all the way through to the big banks. Each lender has its own way of doing things, so we make sure you do it their way, increasing your chances of getting the home loan you want.

When you choose Lend Me, our Mortgage Brokers come to you, any time anywhere in Perth! We provide you with a one-stop shop for all your lending questions, and will happily guide you through each step – from application to approval.

For more exact expert advice, please get in touch with our team today.

Why choose Lend Me Property Loans?

  • Competitive rates
  • Fast approval
  • We do the hard work
  • Choice of lenders

How we've helped our clients...

"Starting up a new business isn’t easy, with so many things to think about it can be quite a stressful process. With the services of Lend Me Asset Finance and Locate Me, they have really helped to take this stress away in the way of meeting me on my job sites to sign documents and dealing directly with the Car Dealers, Bobcat Dealers and even my accountant.

The guys at Lend Me really do take the time to listen to what you are after and work in to suit you and make the transaction so simple and convenient, I can’t thank them enough! I’ve also recommended their services to 3 friends already and have only had good feedback. Lend Me have certainly gained a client for life! Reece"

"Hi there, Saturday just gone, I picked up my dream car, a 2013 black lancer LX.

I'd like to take this chance to say Lend Me Car Loan customer service was by the far the best I have ever received. What I thought was going to be tough work turned out to be the opposite. The process easy, simple and quick for me, she did the hard yards... I will be recommending friends and family... Thanks again! Regards, Stephanie"

I just wanted to say thank you... This has been the smoothest process. You and the other girls I dealt with at Lend Me Home Loans were so friendly and so efficient with everything, I felt like I was the only customer you were dealing with.

I will definitely be raving on to loads of people about Lend Me and the great service you provide.

I am stoked, this will take so much pressure off and will seriously change our lives... we can actually get ahead on payments and start saving some more money.

Thanks again, Kath :)

"Emily & I just want to take this opportunity to say a very big thank you for seeing us through our first home purchase and home loan, you have been a massive help not to mention getting us out of a sticky situation. We will definitely be in touch in the near future and will refer/recommend you to our family & friends if looking out for a friendly, helpful and reliable mortgage broker.

Take care and speak soon. Matt & Emily" 

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