Modern home loans come with many features that can make even a slightly higher interest rate more acceptable. Before you make a decision regarding the loans, it is a good idea to consider all of these features very carefully and understand what they involve. The experts at can provide comprehensive advice on the different loan features and whether they’re worth any higher prices.


  1. You Get Access to Split Rate

 If you want to take advantage of the variable interest rate but also like the steadiness of fixed interest rate, the Split Rate option is a good choice as it splits the loan into two. You can get a fixed rate on one part of the loan and a variable rate on the other part. This offers the best of both worlds and can help you save money over time. Just take the time to understand the different terms and conditions carefully to get the best results.


  1. Redraw Facility

 This feature allows you to pay more money towards the loan with the option to redraw it later if needed. For example, if you’re in good financial health now and have money to spare, put it towards the loan. If you are in a financial bind later, you can redraw the money for some assistance.

The money you put in will reduce the principal amount and the interest rate, which means you will end up saving over the long term. Read the terms and conditions carefully before redrawing money. Some banks will charge a small fee on the redraw facility. Experts from platforms like can help you understand the process.


  1. Repayment Holiday

 The repayment holiday is a short period of time when you don’t need to pay your mortgage. This usually lasts for around 6 months or less depending on the lender. You might have to pay more repayments after the holiday. Some banks only provide this option to people who have paid money in advance.


  1. Portability

Some banks provide the option to transfer the loanfrom one property to another. If you intend to buy a new house but don’t want to apply for a new loan, you can transfer the mortgage onyour old home.

While this is convenient, it also comes with some terms and conditions. For example, you need to settle on both properties onthe same day to port. This loan is usually available only on variable interest loans. Speak with the knowledgeable and experienced experts from to get a clear idea about portability.

If you want to know more about loans and their features, don’t hesitate to contact us at or call 0419 856 669.