What you want from a fixed period
A fixed interest rate offers more repayment certainty for that period. Check restrictions on extra repayments, possible break costs and the rate or options available when the fixed period ends.
What flexibility means in practice
Variable rates can rise or fall. Some loans offer offset or redraw features, but fees, conditions and access rules differ. Consider how you would cope with higher repayments.
Understand a split structure
A split loan puts part of the balance on a fixed rate and part on a variable rate. It combines features of both, with separate conditions and sometimes separate costs.
Bring your plans to the conversation
Possible moves, renovations, changes in income and extra repayments all matter. Rather than trying to predict interest rates, explain how you expect to use the loan and which trade-offs you can comfortably accept.
