RateCity
Standard Variable Rate
All lenders have a standard variable rate which is their benchmark rate or the interest rate they use to advertise their products. However, definitions for a standard variable rate differ from lender to lender because as there is no set law or regulation to determine the criteria. With that in mind, you my not necessarily be offered a standard variable interest rate when choosing a home loan because the rate you are given is determined by several factors including:
- The amount you borrow
- The value of the property
- And your credit history.
It will also depend of the features and services you require for your home loan and the package you choose. For instance, some lenders have a basic rate which comes with minimal or basic features and lenders may have a standard variable rate package which includes all the features a home loan incorporate.
The table below lists todaya??s best variable home loan rates
