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Sydney Mortgage
Revealed: Important new information for First Time Buyers.
With falling interest rates, now is definitely the time to refinance your home loan interest rate.
Is your home loan still a good deal? Our free home loan review will find out for you.

Fixed Mortgage Sydney

Fixed rate mortgages became increasingly popular last year, and well into this year.  However, now interest rates are finally falling and offering relief to home owners.

If you are looking to buy a property, or refinance an existing home loan, should you fix the rate or risk a variable rate mortgage?  If you are worried about rates going back up again, then a fixed rate may be for you.  Fixed rate home loans offer many advantages but there are also drawbacks.

Fixed rate: great!

  • If you fix the interest rate on your mortgage while rates are high, or predicted to rise, you can be sure that your rate will not change regardless of how high rates go.
  • Fixed rate mortgages allow borrowers to know exactly what there repayments will be each month.
  • Fixed rate mortgages are a good choice if your budget would not cope with a small rise in interest rates.


Maybe not?

  • One major disadvantage with a fixed rate mortgage is that if interest rates fall, your rate is locked in for the term agreed - which may be up to three or four years - so you cannot take advantage of the lower rates during that term.
  • Another consideration is that the rate for a fixed mortgage is often slightly higher than the variable rates.  So if you are confident that rates will not rise, why pay more?
  • Costly exit fees may apply to get out of a fixed rate mortgage.

Fixing your rate is a good idea if rates show signs of rising.  However, if rates are falling, you may not want to fix until rates reach their lowest number.  Your Local Sydney Mortgage Broker is experienced in interest rates and their fluctuations.  To get personalised advice, call us on . 		  Our lenders

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