Fixed Rate Home Loans

Know your exact mortgage payments over the fixed term...

Fixed rate loans allows you to lock in an interest rate for the fixed term period. For example, a 3 year fixed term loan at 6.90% will remain at that rate for 3 years regardless of variable interest rate movements.

Most lenders place restrictions on their fixed rate loans such as;

• Restrict extra extra repayments to a limit each year beyond the minimum repayments

• Do not allow the borrower to redraw extra repayments during the fixed loan term

• Do not allow 100% offset accounts to be attached to the loan.

• Charge break fees if the borrower exits the fixed loan term early. Break fees can cost thousands of dollars

However, some lenders will allow unlimited extra repayments, let you redraw extra repayments and attach an offset account to the fixed rate loan. Assessment of interest rate versus flexible features will need to be considered before selecting any fixed rate loan.

What to look for...
• Making extra repayments beyond the maximum amount each year may incur fees

• Lenders that offer extra repayments, redraw and offset account without penalty

• Competitive interest rates and low fees

• The ability have both a fixed and variable rate

• Some lenders discount fixed rate loans if taken under a professional package

Advantages

Disadvantages

• Know exact mortgage repayments
• If interest rates increase you benefit from a lower

interest rate
• Some fixed loans allow unlimited repayments, offset

and redraw

• Know exact mortgage repayments
• If interest rates decrease you will not benefit from

lower repayments
• Most fixed loans do not allow unlimited repayments,

offset and redraw

• Extra repayments or exiting the fixed loan early can

incur heavy break cost fees

Need Help...submit a mortgage quote and a qualified professional can help you find the right loan best suited to your lending needs.

Mortgage Quotes!

Lenders Fixed Rate Loans, Fees and Features...

Lender		Home Loan to Look Out For
Note: Many More Lenders Available. This is just a representation of some of Australia's most longest standing lenders that offer ongoing competitive rates. Please discuss other lender options with your mortgage consultant.
MAJOR BANKS
	ANZ Bank Home Loans	Offer 1,2,3,4,5,7,10 and 15 year fixed rate loans. No redraw or offset and restrict extra repayments to $5,000 yearly without penalty
	Commonwealth Bank Home Loans	1,2,3,4,5,7,10 and 15 year fixed rate loans. No redraw, partial offset and restrict extra repayments to $10,000 yearly without penalty. 0.15% discount available under wealth or MAV package
	NAB Home Loans	1,2,3,4,5 and 10 year fixed rate loans. No redraw, offset or extra repayments allowed without penalty
	Westpac Home Loans	1,2,3,4,5,7,9,10 and 12 year fixed rate loans. Offset not available but redraw and extra repayments to $25,000 yearly without penalty. 0.20% discount available under premier advantage package
	Homeside Lending NAB Home Loans	1,2,3,4 and 5 year fixed rate loans. No redraw or offset and restrict extra repayments to $20,000 yearly without penalty
SMALLER BANKS
	Adelaide Bank Home Loans	3 and 5 year fixed rate loans. Redraw and 100% offset available. Extra repayments to $20,000 yearly without penalty
	AMP Home Loans	1,2,3 and 5 year fixed rate loans. No redraw or offset and restrict extra repayments to $10,000 yearly without penalty
	Bank West Home Loans	1,2,3,4 and 5 year fixed rate loans. No redraw, partial offset and restrict extra repayments to $5,000 yearly without penalty.
	Citibank Home Loans	1,2,3,4 and 5 year fixed rate loans. No redraw, offset or extra repayments allowed without penalty
	ING Direct Home Loans	1,2,3,4 and 5 year fixed rate loans. No redraw or offset and restrict extra repayments to $10,000 yearly without penalty
	St George Home Loans	1,2,3,4,5,7,9,10 and 12 year fixed rate loans. Offset not available but redraw and extra repayments to $10,000 yearly without penalty. 0.15% discount available under advantage package
	Suncorp Home Loans	1,2,3 and 5 year fixed rate loans. No redraw or offset and restrict extra repayments to $500 monthly without penalty
BUILDING SOCIETIES
	Heritage Bank	2,3 and 5 year fixed rate loans. Redraw, partial offset and unlimited extra repayments without penalty.
	The Rock Building Society	1,2,3 and 5 year fixed rate loans. Redraw, 100% offset and unlimited extra repayments without penalty. Line of credit also available
OTHER LENDERS
	Homeloans Ltd	1,2,3,4 and 5 year fixed rate loans. No redraw or offset and restrict extra repayments to $20,000 yearly without penalty