Buying guide
Fixed, floating or split mortgage?
Understand your options
6 December 2023
AI summary
Choosing the right mortgage is crucial. A fixed rate offers certainty with set repayments for a specific term, making budgeting easier but limiting extra payments and carrying potential break fees.
In contrast, a floating rate provides flexibility for lump-sum payments but has less predictable repayments.
A popular strategy is a split mortgage, combining both to balance stability with flexibility. Other options like offset or revolving credit loans are also available. Getting the structure right can save you thousands.
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
Authors
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