Probably the most popular of all the Home Loans is the Variable Rate. This means that the rate can fluctuate with the market. In the past few years has seen an increase by lenders offering a ’Base Variable Rate’, which generally, is quite cheaper than the standard variable rate but with 1 or 2 variances to the product.
The Rate variance can be any where over 50% with some lenders. These were traditionally called the ’No Frills Home Loan’.