Buying guide
Fixed, floating or split mortgage?
Understand your options
6 December 2023
AI summary
Choosing a mortgage involves deciding between fixed, floating, or a split structure to balance payment certainty with flexibility.
Fixed rates offer stable repayments but limit extra payments and have break fees. Floating rates provide flexibility for lump sum payments but can rise unexpectedly. Splitting your loan combines these benefits.
Other options like offsetting or revolving credit mortgages offer different structures. Understanding these choices is key to finding a loan that suits your financial goals and saves you money.
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
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