Fixed rate home mortgage
Discover the security and benefits of a fixed rate home mortgage in Australia. Understand how fixing your rate works and if it's the right choice for your financial stability.
Fixed rate home mortgage
Discover the security and benefits of a fixed rate home mortgage in Australia. Understand how fixing your rate works and if it's the right choice for your financial stability.
HOME LOAN
Why choose a fixed rate home mortgage?
A fixed rate home mortgage offers one key benefit: certainty. Your repayments stay the same for a set term (usually 1–5 years), no matter what the RBA does with the cash rate. Benefits:
Budget stability: Predictable monthly repayments.
Protection from rises: Shielded if market rates increase.
Clear planning: Easier long-term budgeting.
The trade-off? If rates fall, you won’t benefit. That’s why expert advice matters. With HeyNest, an independent broker compares lenders and helps you decide if fixing your rate suits your goals.
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Fixed vs. variable: which mortgage is better?
Choosing between fixed and variable rates depends on your priorities.
Fixed rate:
Stable repayments
Protected from rate hikes
Limited flexibility and break fees apply
Variable rate:
Payments change with the market
More flexibility for extra repayments
Risk of higher costs if rates rise
A HeyNest broker compares both options, including fees, offset features and flexibility to help you choose the right structure for your financial comfort.
Stop Stressing: Why a Broker is the 'Smart, Chill' Way
HeyNest
Traditional Bank
Access to many lenders
Compares and negotiates the best market rates for you.
Dedicated, personalized guide every step of the way.
Only offers their own limited products.
Standard, often non-negotiable in-house rates.
Standardized service; often no single dedicated contact.
Common fixed rate home mortgage features
Before locking in, know the main conditions:
Fixed term: Usually 1–5 years, then reverts to a variable rate.
Break fees: Charged if you refinance or repay early.
Extra repayment limits: Most fixed loans cap additional payments.
Offset accounts: Not always available with fixed loans.
Reversion rate: Check what rate applies after the fixed term ends.
HeyNest connects you with independent mortgage experts who explain these details clearly and find competitive fixed rate options across Australia, from Sydney to Perth, so you can borrow with confidence.
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Frequently asked questions
Can I pay extra on a fixed rate home mortgage?
Most fixed rate mortgages allow limited extra repayments annually, but exceeding this cap usually incurs significant fees.
What happens when the fixed term ends?
The loan automatically switches to the lender's standard variable rate. You can choose to refix your rate, refinance or stay on the variable rate.
Are fixed rates always lower than variable rates?
Not necessarily, the rate depends on market expectations. Lenders price fixed rates based on their forecast of where interest rates will move during that term.
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