Split Loan Calculator
Explore the benefits of splitting your home loan between fixed and variable rates.
Split Loan Calculator
How Split Loans Work
A split loan allows you to divide your home loan into two or more parts, typically one with a fixed interest rate and another with a variable interest rate.
This calculator helps you understand how different fixed and variable proportions can impact your repayments and overall loan strategy.
Splitting your loan can offer a balance between the certainty of fixed rates and the flexibility of variable rates.
Considering a Split Loan?
Our mortgage experts can help you determine if a split loan strategy is right for your financial situation and risk tolerance.
Frequently Asked Questions
What is a split loan?
A split loan allows you to divide your home loan into two or more portions, typically one with a fixed interest rate and another with a variable interest rate. This strategy aims to combine the benefits of both loan types.
Why choose a split loan?
Split loans offer a balance between stability and flexibility. The fixed portion provides certainty in repayments, protecting you from interest rate rises, while the variable portion allows you to take advantage of falling rates and make extra repayments without penalty.
Can I change the split ratio later?
It depends on your lender and the terms of your loan. Some lenders offer flexibility to adjust the fixed and variable portions of your loan, while others may have restrictions or fees associated with changes.
Is a split loan right for me?
A split loan can be a good option if you want some certainty in your repayments but also want the flexibility to make extra repayments or benefit from potential rate drops. It's best to discuss your financial situation with a mortgage broker to see if it aligns with your goals.