Are you torn between fixed rate and variable rate home loans?

Mark Fitzpatrick | September 14, 2018

No need to stress, there is always something right in front of us to make us smile again

What if you split your loan and had it part fixed and part variable?

With a fixed rate mortgage, you will have fixed repayments during your chosen fixed term, which enables you to make budgeting much easier. 

For some fixed loans, you will also have the ability to make extra repayments up to a certain amount, as well as enjoy a redraw facility. 

With a variable rate mortgage, you can make extra repayments to help pay off your loan faster. 

For instance, if interest rates fall but you discipline yourself to keep paying the same amount as before, you can potentially cut years off your loan and save thousands of dollars. 

No mortgage is risk-proof – as every mortgage out there has its own set of risks. 

But a split loan option might be a great way to avoid some of the pitfalls of the mortgage and property market. 

It can also be a very savvy way to get the most out of your mortgage. 

If you need help in deciding whether to use a split mortgage or not, speak with an accredited mortgage broker

You can call 0410 442936 or simply ask me a question