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Accredited Member Finance Brokers Association of Australia
No Frills Loans
A basic or "no frills" home loan has three main features:
- A low ongoing interest rate for the life of the loan
- The flexibility to make extra repayments at any time and repay your loan early
- Redraw access to additional repayments
Restrictions may apply on some options such as direct salary crediting and 100% Offset Savings Accounts.
You can choose to pay weekly, fortnightly or monthly.
Basic Home Loans offergood value for money if you are on a limited budget with little spare cash and do not need the extra features or flexibility that other types of home loans may offer.
- A Basic Variable Home Loan has the lowest ongoing rate of interest but has few options compared with a Standard Variable Loan.
- A Standard Variable Home Loan has a slightly higher interest rate than a Basic Variable, but has more options such as allowing higher repayments to be made with the benefit of a redraw facility should you wish to later draw back out those extra payments. A Standard Variable loan may also have a linked Interest Saver / Offset account attached.
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Contact us without obligation to find out more about standard home loans.
You saved us from having to start all over again
My name is Tanya Noble and my husband Jeffrey and I wish to give our heartfelt thanks and appreciation to Leonie, Wendy and Fleur at Freedom Loans.
2007 was a very hard year for our family, beginning with my Mother losing her long and painful battle with Cancer, my husband breaking his wrist, losing his job then ..