Fixed home loan
The rate is set for an agreed period, providing repayment certainty. Limits on extra repayments and break costs can apply.
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Home loan rate options
Fixed vs variable home loans: what is the difference?
Compare repayment certainty, flexibility and loan features before choosing a fixed, variable or split home loan. The right structure depends on your plans and comfort with changing repayments—not a prediction about rates.
Your options
Compare certainty with flexibility
Neither structure is automatically better. Start with the features you will actually use and the risks you are comfortable carrying.
Variable home loan
The rate can move over time. These loans often provide more flexibility, but repayments may rise when the lender changes its rate.
Split home loan
Part of the balance is fixed and part variable, combining some certainty with some flexibility. Fees and features still need comparison.
How it works
A straightforward path to your next decision.
- 01
List the flexibility and repayment certainty that matter to you.
- 02
Compare rates, fees, features and restrictions across suitable loans.
- 03
Choose a structure you can manage across a range of rate scenarios.
Common questions
What borrowers often ask
Is a fixed or variable home loan better?
It depends on the value you place on repayment certainty, flexibility and loan features. The decision should account for fees, restrictions and your future plans rather than relying only on a forecast of interest rates.
What happens when a fixed-rate period ends?
The loan will generally move to the lender’s applicable variable rate unless you arrange another option. It is useful to review the loan before the fixed period expires.
Can I make extra repayments on a fixed home loan?
Some fixed loans permit extra repayments up to a limit. Restrictions differ, and exceeding them or ending the fixed term early may result in break costs.
What is a split home loan?
A split loan divides the balance into fixed and variable portions. This may provide some repayment certainty while retaining selected variable-rate features.
Ready when you are
Let’s find your better rate.
Book a free 30-minute appointment with a mortgage broker to clarify your next step.