If interest rates fall, your home loan repayments will come down, However, if the interest rates increase, so will your monthly home loan repayments.
Most borrowers prefer a standard variable home loan because they are the most flexible home loan available and offer a range of features, such as a redraw facility, repayment frequency flexibility, portability, the ability to make extra repayments without penalty, line of credit, offset accounts, redraw facilities and the flexibility to split your home loan.
You should seek pre approval before entering into a Development Finance arrangement. The reason is simple, building is a complex exercise requiring good co ordination and technical skills.
Check out some of Development Finance resources and articles.
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