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Home Loans4 min read
Fixed vs Variable Home Loans: What to Compare
Choosing between fixed and variable is not just a rate decision. It is also about repayment certainty, flexibility and how you expect to use the loan.
Repayment certainty
A fixed rate may provide more predictable repayments for a set period, while a variable rate can move over time.
Flexibility and features
Variable loans may offer features such as offset accounts or extra repayment flexibility. Fixed loans may have limits or conditions on some features.
Break costs and changes
Changing or ending a fixed loan early may involve costs. These should be understood before committing to a structure.
Split loan options
Some borrowers consider splitting their loan between fixed and variable portions. Suitability depends on circumstances and lender criteria.
General information only. This guide is provided for general information and does not take into account your objectives, financial situation or needs. Lending is subject to eligibility, lender criteria and approval. Speak with a broker for guidance based on your circumstances.