If you’re worried about rising interest rates, then a fixed rate home loan may be the solution.
Fixed rate home loans offer a fixed interest rate for a set period of time. Because of this, repayments remain the same for the duration of the fixed rate period, usually between one and five years. At the end of the fixed period, you can switch to a variable rate loan or negotiate a new fixed rate or even opt for a split rate loan.
Benefits
· Stability – fixed repayments allow you to plan your finances and stick to your budget, even in times of economic uncertainty.
· Cost – when interest rates rise, repayments won’t increase.
At a glance
· monthly repayments remain the same
· interest rate fixed
· some lenders charge exit fees
· less flexible features
· limited repayment and redraw options
If you have any questions please feel free to contact us – Obligation free.
Fixed rate home loans offer a fixed interest rate for a set period of time. Because of this, repayments remain the same for the duration of the fixed rate period, usually between one and five years. At the end of the fixed period, you can switch to a variable rate loan or negotiate a new fixed rate or even opt for a split rate loan.
Benefits
· Stability – fixed repayments allow you to plan your finances and stick to your budget, even in times of economic uncertainty.
· Cost – when interest rates rise, repayments won’t increase.
At a glance
· monthly repayments remain the same
· interest rate fixed
· some lenders charge exit fees
· less flexible features
· limited repayment and redraw options
If you have any questions please feel free to contact us – Obligation free.
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