One of the most common questions we receive from clients here at Mortgage Choice in Cheltenham is whether it is best to fix your home loan rate or opt for a variable rate loan.
There's pros and cons attached to both options really.
A fixed rate home loan will provide you with a predictable rate that will not fluctuate, but it may also have some break costs that you wouldn't encounter if you were on a variable rate loan.
A variable home loan is a more flexible product with more features (offset accounts, Redraw facility and the ability to make early and extra repayments on your loan) than a fixed rate home loan. A variable rate loan can be a bit unpredictable though.
Just to add a different twist to this discussion, it is possible to combine both a variable and a fixed rate loan together - give us a call on (03) 9585 779 or visit https://www.mortgagechoice.com.au/anthony.smith for further details and to book your free, no obligation meeting to discuss your options.