With a set home loan, your rate of interest remains exactly the same for the period that is fixed-rate.
- Regular fixed repayments that will help you budget. Budget confidently by once you understand your precise payment amounts and timings.
- The timeframe is chosen by you. Pick a period that is fixed-rate matches your requirements. You may want to decide to make repayments regular, fortnightly or month-to-month.
- Your rate of interest is locked in. Have actually certainty and comfort of head by knowing just what your repayments will undoubtedly be and protection from interest increases. Interest levels may fall during your however fixed-rate duration.
- You are able to one repayment that is extra to 5% associated with outstanding loan stability every year of the fixed-rate duration without having to be charged Early Repayment healing.