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Is a fixed rate home loan the right choice?

Fixed rate home loans typically work quite differently to a variable rate. Apart from the rate being set for a fixed duration of time (typically between 1–5years). Fixed rate home loans usually do not have redraw, offset accounts and limited your ability to make additional repayments. Furthermore, repaying a fixed rate home loan early, could result in expensive break fees.

If you are considering whether you should fix your home loan, we recommend speaking with one of our expert mortgage brokers or you bank. Make an informed decision and ensure you know the benefits and limitations.