QUICK ENQUIRY
AS YOUR LIFE EVOLVES
WE WILL BE THERE TO SUPPORT YOUR JOURNEY EVERY STEP OF THE WAY
We can provide Fixed Rate options with a wide range of bank and non-bank lenders, which provide consistency in your repayments in times of economic uncertainty & instability. Lenders provide Fixed Rate loans over varying timespans where your interest rate does not vary, normally up to a maximum of 10 years.
If you like to rest easy knowing your mortgage repayment will be consistent, providing stability to your budget, then a fixed rate loan may be the avenue for you.
Once your fixed rate period comes to a close, the loan then automatically reverts to the current variable rate. You can either re-fix your loan again, or remain on a variable rate. Your loan can also be split into 2 portions, one with a fixed interest rate, and the other with a variable rate. This allows you to get the best of both interest rate structures. A portion of your loan is fixed for security, and the rest is on a variable rate, allowing you to benefit from a lower rate that has further potential to reduce depending on the economic climate.
A pitfall of a Fixed Rate loan is that your interest rate will not reduce if the reserve bank sanction an official interest rate reduction. If, however, they increase the official rates, then your rate won’t change either, so it’s not all bad news. Remember, fixed rate loans normally carry a slightly higher interest rate than variable rate loans, and some lenders even impose a cap on how much extra you can pay off your loan each year. There is never a bad time to give your home loan a free check-up, and one of our experienced brokers will be happy to find out of there is a better option out there in the market for you.
The debate over whether you should fix your home loan rate, or leave it variable is always a hot topic. When it comes down to it, it really depends on the individual and their current and future needs & aspirations. While fixed rate loans often incorporate a slightly higher interest rate than your standard variable rate loans,
Cheapest fixed rates on the market
Split loan facilities
Tailored loans to suit your needs
Term reviews and loan monitoring