Principal Interest Loans
Principal interest loans are the most common types of mortgages and they come in a number of variations. They can be owner occupied, fixed rate, investment, professional and basic (low features and frills). They are primarily available in 30 year terms, and in many cases principal interest loans can be offset.
Repayments are normally either monthly, half monthly, fortnightly, quarter monthly or weekly – depending on how the lender splits their fortnightly and weekly repayments. Most lenders will also have loan redraw available for repayments made in advance.