Fixed Rate Home Loans
Home loan lenders offer a variety of options when it comes to fixed interest rates.
For example there are fixed interest rate home loan terms ranging from 1 to 15 years, the key reason clients choose a fixed rate is to ensure their repayments are constant over a given period they choose for the home loan.
Even though the interest rate is fixed for these home loans there is still a level of flexibility within the home loan itself.
Let’s have a look at some of the benefits and flexible options available with Fixed Rate Home Loans:
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Ability to budget more accurately as your home loan repayments are a set amount for a nominated period |
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Some fixed rate home loans even offer a redraw facility during the fixed period |
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Competitive interest rates offered for many fixed rate home loans |
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Many fixed rate home loans offer the flexibility of additional repayments during the period |
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No sleepless nights worrying about Reserve Bank rate increases which affect variable home loans but not your fixed rate home loan. |
Once the fixed rate loan term has lapsed the home loan reverts to the prevailing variable home loan interest rate at the time.
This is when you can again select to fixe the rate. Simply speak to one of our home loan consultants to find out more about your fixed rate options.
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