Fix & Save - 3 Years Fixed - Owner Occupied

When you compare our 3 Years Fixed Mortgage offer to similar mortgages the big banks offer, we think you will be satisfied with what you see. Bear in mind the interest rate alone might not be the best way to compare. If that is your top priority, make sure to look at the comparison rate, which will give you an indication of the overall cost of the loan once all the fees and charges are incorporated. Banks and lenders have to feature the comparison loan by law. When comparing fixed rate mortgages, look at whether or not the loan call allow you to make extra repayments, or lump sums, and whether there are any penalties if you do so. Unlike our 3 Years Fixed Mortgage offering, some loans can penalise you. And keep an eye out for the extra features such as offset account availability, or redraw facility. There can also be extra fees at the start and during your loan term. Comparing these can give you a much better picture of all the mortgages on offer.

There are two main kinds of mortgages – fixed rate and variable rate. A fixed rate loan fixes the interest rate you are charged for an agreed term, usually up to 10 years. Variable rate mortgages mean your interest rate can go up and down over time. Variable rates can be influenced by a range of factors, including the state of the national and world economy, as well we individual banks’ and lenders’ business needs. Most fixed rate mortgages will revert to a standard variable loan after the agreed term, but you can apply for another fixed-rate period if you wish. You can look at how our 3 Years Fixed Mortgage offer stacks up against other fixed term, or even variable rate loans, by comparing up to 5 at a time. Our comparison tool lays everything out on the table for you, including all the features, loan length, rates and much more. It really does allow you to compare apples with apples, making it easier to choose between all the different options.

Choosing what kind of mortgage rate loan to take out can be a difficult decision for the whole family. Having to try to predict whether or not variable rates will rise or fall over the next 3 years is almost impossible. At the same time, fixed rate mortgages can give you that extra security, especially if you are budget conscious and worried about defaulting on your loan. Knowing exactly what your repayments will be for the next three years is a security blanket a lot of people need. It allows them to budget in advance, and means you won’t be at the whim of local or international economic conditions. However at the same time, you don’t want variable rates continue to drop over your fixed term. Working out which is best really can be a personal choice. At Mortgage House, we can help you every step of the way, by talking you through all the options available and helping you understand, and reach, your property goals.

When you decide on fixed rate repayments, it is important to remember that at the end of the fixed term, you may revert back to paying variable rates. This will mean your minimum repayments will rise or fall. If they do fall, and you can afford it, keeping up your fixed rate repayment amount can help you in the long run, and maybe even shave thousands of dollars, and years, off your mortgage. Either way, you can check out our calculator options, which will give you an indication leading up to any changeover what your new repayments may be. But remember, it is a guide only, so make sure you talk to us to confirm any changes, one way or another.