Can fixed rates fix your budget?

Budgeting can be tough. If you have a tight budget and you’d prefer the security of knowing exactly how much your repayments will be every month, then a fixed rate home loan locked in for a set period (usually 1-5 years) may suit you better.
Note: Having a fixed rate home loan also means you’ll have to pay the same interest rate, even if market interest rates drop.

Fixed rate home loans also usually come with less features than variable rate loans, such as no offset or not being able to pay your loan off early.

Unlike most lenders, our Tiimely Own fixed rate home loans come with an offset account as standard. This lets you use your savings to lower the amount of interest you pay and reduce the overall cost of the loan.

A budget calculator can help you to understand how much you are spending and where you are spending it and ASIC’s MoneySmart online planner can help you get started.