Deciding whether to fix your home loan interest rate, or whether to choose a variable interest rate, can sometimes be a difficult choice.

The comfort in having a certainty of your repayment amount can remove stress, but if interest rates keep falling you may end up paying more than you need to. It can also restrict how quickly you can repay your loan, as it is a common feature of fixed loan products to limit how much extra you can repay the loan during the fixed period.

However, did you know, that you can take the best of both options by opting for a split loan – meaning you can choose a fixed loan for a portion of your home loan, and also have a variable portion. This can allow you to enjoy benefits of both types of loans.

There are many choices you will make when you apply for a home loan. Why not take advantage of the free services of a Mortgage Broker when you do.

If you would like to know more, Contact a Prefix Finance broker here.

All information accurate as at October 2017