Fixing Your Rate |

         peace of mind

When we look at the rate movements over the last decade or so they appear to have remained reasonably stable. Unfortunately, however, past history does not guarantee stability for the future and this in turn makes it difficult to decide whether to fix your home loan today.

Fixing your loan is a very personal decision and by fixing in a rate, you can guarantee your future repayments for your chosen fixed term, however you cannot guarantee that rates will not fall during your fixed term leaving you paying higher interest.

Media releases can create an uneasy feeling in us all when they start to talk of rates rising and if you feel at all concerned about future interest rate rises, it is worth looking more closely at fixed rates.

With interest rates so competitive with lenders, it is important to consider all the options you have with fixing before making a decision.

A popular option amongst borrowers who want some level reassurance, is to split their home loan. An example would be to apply a 3 or 5 year fixed rate to 50% of your loan and leave the balance variable to “hedge your bets” against rises and falls in rates.

When comparing fixed rates we pay special attention to the lenders comparison rate not just the rate promoted.

Together, we can evaluate the real costs, including what fee applies to fix and what sort of rate will apply to your home loan after your fixed rate expires. Importantly, if another lender is advertising what appears to be a better rate, we need to factor in breaking your current loan agreement and determine whether the long term gain can justify the short term costs.

Home Loan$ & MORE will help you identify competitive Variable rates versus Fixed rates or a combination of both and the lenders with the lowest interest rates, and preferably with no application fees and no monthly fees.

Call Home Loan$ & MORE on 1300 133 778