Mortgage myth: I cannot have both floating and fixed interest rates on my home loan

This is FALSE. You can split the total amount you are borrowing into different portions and have both floating and fixed rates.  This is referred to as your loan structure, which can give you the flexibility to make extra repayments on the portion of your loan on floating, while still having certainty on the portion of your loan that has a fixed rate.

You can also have different maturities, like a portion of your loan fixed for 2 years, and another portion fixed for 5 years. How you split your loan will depend on your individual circumstances and your goals, but having the right structure will help you pay off your loan faster. 

Do you want to know if you have the right structure? Contact us.
Images courtesy of Michal Marcol / freedigitalphotos.net


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