Fixed, floating or split mortgage?

Choosing a mortgage involves deciding between fixed, floating, or a split structure. Each has distinct advantages for managing your home loan.

- Fixed rates offer payment certainty, making budgeting easier. However, they limit extra repayments and can have significant break fees.

- Floating rates provide flexibility to make lump-sum payments without penalty but can rise unexpectedly.

A split mortgage combines both, offering a balance of stability and flexibility. This strategy helps manage interest rate risk while allowing you to pay your loan down faster.