Offering higher than average interest rates, the QBANK Standard Variable Rate Home Loan makes up for this with a long list of features for owner-occupier buyers and investors.
For instance, the loan offers a redraw facility that is free to use through internet banking. You can also make additional repayments with no penalty, or top up your loan at the minimum allowed amount.
Some of the other features offered on the QBANK Standard Variable Home Loan include the option for buyers to make their loan transferable to a different property if they move house, known as mortgage portability.
Investors meanwhile may wish to capitalise on an interest only loan with a maximum period of 10 years. Also available is a construction loan for buyers to take out their loan in parts, as construction progresses.
As with many similar loans, the Standard Variable Rate Home Loan is available to split with a fixed rate loan.
On the downside, there is no offset account available on this loan.
Such a range of features mean that the Standard Variable Rate Home Loan could be a fit for a number of different buyers and investors.
However, borrowers should factor in the high variable rates and upfront fees before deciding on this loan.
The loan is only available to those working in the police and emergency services industries and their families. For more information about who can become a member read the about the QBANK, below.
The Standard Variable Loan from QBANK offers some popular loan features. For instance, buyers and investors can both make use of construction and portability features as well as a redraw facility.
But it does come at a cost. The interest rate charged on this loan is considered high by market standards. On top of this, the loan has substantial upfront fees.
For more information about the QBANK Standard Variable Loan please click the link below.
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