Buying guide
Fixed, floating or split mortgage?
Understand your options
6 December 2023
AI summary
Choosing a mortgage involves deciding between fixed, floating, or a split-rate structure. A fixed rate offers payment certainty but has less flexibility and potential break fees.
A floating rate provides flexibility for extra repayments, but your payments can change with market rates. Splitting your loan across different rate types, or using an offset or revolving credit structure, can help balance risk and security. Getting the right structure can save you thousands over the life of your loan.
How does a fixed mortgage work?
Choosing a fixed rate term
There may be some repayment flexibility with a fixed mortgage
How does a floating mortgage work?
Why do floating rates change?
What are the different types of mortgages?
Examples of possible mortgage structures
Getting experienced advice
Authors
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