Fixed Rate Home Loans

Financial Certainty with repayments
A fixed-rate home loan locks in your interest rate for a set term, typically ranging from one to five years. Regardless of any changes in the official interest rate by the Reserve Bank of Australia (RBA), your fixed rate will remain unchanged for the duration of the term. Once the fixed term ends, your home loan will revert to the lender's current variable rate. As your fixed-rate period approaches its end, you can choose to either renew your fixed term at the lender's current advertised rate or switch to the variable rate. While fixed interest rates are usually slightly higher than variable rates at the time of selection, this can result in higher repayments until variable rates increase again.
The primary advantage of a fixed-rate loan is that it allows you to budget with certainty, knowing exactly what your mortgage repayments will be during the fixed term. If the RBA raises interest rates, your repayments won’t change until the fixed term ends. However, if the RBA lowers interest rates, your fixed rate will remain the same, and you could end up paying more compared to a variable rate. Additionally, breaking your fixed-rate loan early can incur break costs, and there are usually limits on extra repayments—such as being able to pay an additional $10,000 per year without incurring fees. You may also lose access to certain loan features like offset accounts or redraw facilities. Some lenders now offer a split loan option, allowing you to fix part of your loan and keep the rest as a variable loan. For example, you might fix 80% of your loan and keep the remaining 20% on a variable rate. This lets you enjoy the security of fixed repayments for most of your loan while maintaining access to features like offset accounts and uncapped additional repayments on the variable portion. The percentage you choose to fix or leave variable can be customized, such as 50-50% or 90-10%, depending on your lender's requirements. It’s important to understand the costs associated with fixing or keeping any portion of your loan variable before moving forward. Ready to explore your options? Get in contact using the form below, and I'll help you determine your expected costs.

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Key benefits of fixed rate Home loans

01.
Repayment Certainty, budget with ease.
A fixed-rate loan provides you with greater control over your budget, offering peace of mind with predictable mortgage repayments throughout the fixed term.
02.
weekly, fortnightly or monthly repayments
Most lenders offer flexible repayment options, allowing you to choose weekly, fortnightly, or monthly payments to suit your financial situation. This can be especially helpful if your income is paid on varying schedules.
03.
Protect yourself again future interest rate rises
Enjoy the comfort of knowing your rate is locked in. With interest rates rising across the country, fixed repayments give you the security that your mortgage costs won't unexpectedly increase.
04.
Plan for the future and set financial goals
Having consistent repayments makes it easier to plan ahead. Whether you're budgeting for a family holiday or saving for a new car, the certainty of fixed payments helps you manage these plans with confidence.

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