Splitting your home loan between fixed and variable
A split loan could offer you both flexibility and security when it comes to paying off your mortgage. Splitting your loan would allow you to set a specific amount at a fixed interest rate with predictable repayments, and have the remainder set at a variable interest rate, allowing you to take advantage of any competitive or fluctuating market rates.
Enter into the calculator your total home loan amount and period, as well as the amount of your loan that will be the fixed portion (the amount that you will have the fixed interest rate applied to). It will calculate your fixed and variable repayments as well as the total payable interest on the loan and full amount to be repaid.
Only some loan providers will allow you to adjust your loan for split loan repayments, so if you’re interested in finding out more, your local Mortgage Choice broker can discuss the options with you.