Fixed Rate Home Loans
With 30 years experience writing home loans, we know exactly who's offering the best option to suit your needs. We have access to numerous Fixed Rate home loan options from over 30 bank and non-bank lenders.
Why Choose Fixed Rate Home Loans?
Predictable Payments
Lock in your interest rate and enjoy consistent monthly repayments that won't change during your fixed term.
Budget Security
Perfect for borrowers who prefer set budgets and want to avoid unexpected payment increases.
Rate Protection
Protect yourself against potential interest rate rises during your fixed term period.
Fixed Rate: Pros and Cons
Pros of Fixed Rate Home Loans
Set Term & Rate
Fixed rate loans offer a set term and interest rate ranging from 6 months to 10 years
Peace of Mind
Knowing your repayments won't change over the fixed loan term provides security
Budget Certainty
Perfect for borrowers who like to keep a set budget and make set loan repayments
Cons of Fixed Rate Home Loans
No Rate Reduction Benefits
You won't receive the financial benefit if official interest rates fall during your fixed term
Higher Interest Rates
Generally, fixed rates are higher in comparison to more flexible variable rate loans
Limited Flexibility
Fixed rate loans don't offer the same flexibility as variable rate options
How Fixed Rate Loans Work
Choose Your Term
Select a fixed term that suits your needs, ranging from 6 months to 10 years. Consider your financial goals and market conditions when choosing.
Lock In Your Rate
Your interest rate is locked in for the entire fixed term, providing certainty about your monthly repayments regardless of market fluctuations.
End of Fixed Term
Once the fixed rate period is completed, the rate will usually revert to a variable rate unless you choose to rollover for another fixed term.
Best of Both Worlds: Split Loans
Fixed rate home loans can also be combined with variable rate products into a split home loan to gain the best of both worlds.
Variable Rate Portion
Provides flexibility with features like offset accounts, extra repayments, and redraw facilities.
Fixed Rate Portion
Offers security and payment certainty, protecting you from potential rate rises.
This strategy allows you to enjoy the benefits of both loan types while managing your risk and flexibility according to your needs.
Why Consider a Split Loan?
Risk Management
Spread your risk between fixed and variable rates
Flexibility & Security
Get the best features from both loan types
Customized Solution
Tailor the split to match your financial goals
Is Fixed Rate Right for You?
Fixed rate home loans are ideal for borrowers who value certainty and want to protect themselves against potential rate rises.
Perfect For Budget Planners
If you prefer set budgets and want to avoid unexpected payment increases, fixed rate loans provide the certainty you need.
Rate Rise Protection
Lock in your rate to protect against potential interest rate increases during your fixed term.
Consider Market Conditions
Take advantage of economic downturns and secure competitive fixed rates when market conditions are favorable.
Frequently Asked Questions
What happens at the end of my fixed term?
Once the fixed rate period is completed, the rate will usually revert to a variable rate unless you take up the option to rollover for another fixed term.
Can I break my fixed rate loan?
Breaking a fixed rate loan early usually incurs break costs. These costs can be significant, so it's important to consider your long-term plans.
What terms are available?
Fixed rate terms generally range from 6 months to 10 years, allowing you to choose a period that suits your financial goals.
Should I consider a split loan?
Split loans combine fixed and variable rates, giving you the best of both worlds - security and flexibility. This can be an excellent strategy for many borrowers.
Ready to Lock In Your Rate?
Take advantage of current market conditions and secure a fixed rate that gives you payment certainty and peace of mind.