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Fixed rate home loans can offer a set term and interest rate. The term generally range from 1 – 5 years, appealling to borrowers who want to be certain of their interest rate and repayments for the set loan period.

However, fixed rate home loans do not allow for the reduction of repayment amounts if interest rates fall but the reverse could be said when they go up. Generally fixed rate home loans are priced higher in interest rate than variable home loans and generally revert to a variable home loan rate at the expiration of the fixed period.

Fixed rate home loans generally have an option to roll over at the end of the fixed term. They can also be combined with a variable rate loan to gain the best of both worlds enabling the flexibility of the variable rate and the security and stability of the fixed rate home loan.

Pre-Approval