Living in your house is your pride. Not all have the chance to live on their property since it costs a lot. But, if you have saved enough to build or buy a house, then lucky you. However, some people keep on saving money yet can’t construct or buy a home due to lack of income. These people keep on renting or living with their family or relatives. A lot of banks and money lending companies are offering their services. These people who need money to finance a home, whether buying or constructing a new home, have finally found a solution. The offset variable rate home loan is a type of mortgage with reduced interest payment while free access to your savings.
Pay off your home with no worries
The most common problems of home loans out there are that customers are facing troubles of high-interest rates. Instead of making them feel relaxed with their new home, money worries will be another problem for them. In this type of home loan, customers can use their offset account to reduce the interest payment and can freely access their savings. Unlike the other home loan offer, in which customers can no longer access their savings and a large percentage of their savings will go directly to the bank. Also, anyone who needs refinancing can apply to the same bank. An offset variable rate home loan offers great benefits to the borrowers, such as:
- 100% offset
- Free repayments
- Free redraw
- Easy access to savings
These are excellent benefits offered by the bank. These benefits can’t be possible from any other home loan types out there.
Go for an online application!
Borrowers can start the home loan application online. Therefore, the application process is very much convenient and simple. There is no need for you to visit the physical bank, an online application will do. Check the qualification of applying for a home loan online. For customers having trouble with the online application, the home loan specialist will connect to you. Whether you are an owner-occupier or an investor, this type of home loan is the solution for financing your home.
No hidden fees
Some of the borrowers are in deep debt because of the hidden fees. Some home loan providers offer a beautiful advertisement and service, some unexpected fees are applied that the borrowers are paying. It could be so frustrating for those on a tight budget. Borrowers lend money from a home financing bank because of not enough funds to support the house construction. Yet, in the end, more fees are applied after the approval. But, not in this type of home loan. Instead, customers will enjoy the no monthly fee and no annual fee offer. It will be a great opportunity for people who have low incomes.