No Frills Loan
June 23, 2015
As the name implies, a no frills loan is generally a lenders variable rate loan with fewer features with minimal or no ongoing fees. This loan has fewer “bells and whistles” than pro pack loans.
The variable loans are >1% cheaper than the lenders standard variable interest rate. As a result, Better Choice facilitates more no frills loans than any other type of loan.
What are the characteristics of a no frills loan:
- Redraw feature is available
- Minimal or no ongoing fee’s
- In some cases the 100% offset feature is available with no frills loans
Better Choice Mortgage Services is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within this website. While the information contained within this website is periodically updated, no guarantee is given that the information provided in this website is correct, complete, and up-to-date. Although the Better Choice Mortgage Services website may include links providing direct access to other internet resources, including websites, Better Choice Mortgage Services is not responsible for the accuracy or content of information contained in these websites. Links from Better Choice Mortgage Services to third-party sites do not constitute an endorsement by Better Choice Mortgage Services of the parties or their products and services. The appearance on the website of advertisements and product or service information does not constitute an endorsement by Better Choice Mortgage Services, and Better Choice Mortgage Services has not investigated the claims made by any advertiser. Product information is based solely on material received from suppliers. Advanced Finance (Pty) Ltd t/a Better Choice Mortgage Services are not financial planners or accountants and we would encourage our clients to seek professional advice before acting on any a financial or taxation information in this news post.