Buying guide
Fixed, floating or split mortgage?
Understand your options
6 December 2023
AI summary
Choosing the right mortgage is a crucial financial decision. A fixed rate offers payment certainty for a set term but may have penalties for extra repayments. In contrast, a floating rate provides flexibility for lump-sum payments but can change at any time.
Many homeowners use a split mortgage, combining fixed and floating portions to balance security and flexibility. The ideal structure depends on your financial goals and risk appetite, so getting personalised guidance from a mortgage adviser is highly recommended.
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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