To fix or not to fix?

May 26, 2015
Shae Aiello

With interest rates at their lowest point ever, many of our customers are asking our team do I fix or not?

Fixing at a lower rate may give you benefits over staying with a variable rate, but there are a few aspects which need to be taken into consideration before making the choice. 

5 Points to consider when deciding between fixed and variable interest rates
  • Fixing all or part of your loan can give you protection from future rate hikes

  • Fixing brings certainty of repayments, making budgeting easier

  • Typically fixed rate loans do not have features such as redraw facility or the ability to make extra repayments

  • If rates fall again you won’t receive any benefits during a fixed term - you will be locked into the same rate

  • If you need to break an existing fixed rate term, extra charges may be incurred. It's possible that this could run into several thousand dollars depending on how rates have moved
But there's no need to worry - our experienced Mortgage Choice broker, Steve Sims, will help you consider all these factors when deciding if you should fix your interest rate. 

Checkout our latest Money Chat video below, as it discusses the difference between and fixed and variable rate and also the pros and cons of each.

Fixed, variable or split?

With many loan options available to you, including fixed, variable and split, talking to a home loan expert like Steve is an important step in getting the right loan for you. He will consider your personal situation, as well as rates, fees and features to make sure you have the loan that's right for you. 

And, as a Mortgage Choice broker, Steve gets paid the same rate regardless of which home loan you choose from our wide choice of lenders. To get expert home loan advice at no cost to you, call Steve on 0433 124 081 or


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