Buying guide
Fixed, floating or split mortgage?
Understand your options
6 December 2023
AI summary
Choosing between a fixed rate, floating rate, or split mortgage is a key financial decision. A fixed rate provides certainty with stable repayments, making budgeting easier, but offers less flexibility for extra payments and may have break fees.
A floating rate offers flexibility to make lump sum payments and access features like offsetting or revolving credit, but your repayments can rise unexpectedly.
A split mortgage combines both, balancing security with flexibility. Professional advice is recommended to find the best structure.
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
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