Fixed Rate Home Loan

Fixed Rate Home Loans can offer you a set term and interest rate, which will generally range from 6 months to 10 years. Fixed rates may appeal to borrowers who like to keep a set budget, as you can be certain of your home loan repayments for the fixed period.

Fixed rate products are generally less flexible than the variable rate products as you are limited to how much in extra repayments you can make each year, they don’t offer 100% offset accounts and usually do not offer redraw. To get around these deficiencies we usually offer our clients a split loan facility which is mostly fixed with a small amount variable which allows the borrower to make all of their extra repayments against the variable portion with redraw available as an option – this is a great structure as it locks in the majority of the loan for a fixed period, while giving the borrower the option to make additional payments with the option of redrawing those funds. 

In saying that, there are lenders on our panel that do offer redraw and unlimited repayments on their fixed rate products.