FIXED-RATE HOME LOANS

Secure Your Rate, Plan Ahead

Protect yourself from rising interest rates with a fixed home loan and enjoy consistent, planned repayments.

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FEES STRUCTURE

Fixed Loan Fees

1. Upfront Costs

Fees such as application, valuation, and establishment charges apply when setting up your loan.
2. Ongoing Charges

Regular fees like package and account-keeping fees may apply throughout the loan term.
3. Early Repayment Costs

Paying off your loan early can incur fees, including early repayment and break costs.
4. Closing Fees

Discharge fees may apply when finalizing your loan or switching lenders.

Plan Your Loan Budget

Get a clear picture of your future repayments. Use our calculator to see how a fixed rate loan fits your financial plans.

FIXED-RATE LOANS

Fixed-Rate Loans for Stability

Lock in your interest rate and enjoy predictable repayments, no matter how the market fluctuates.

Financial Certainty

A fixed-rate loan ensures consistent repayments, giving you peace of mind and control over your budget.

Protection from Rising Rates

Secure your loan at today’s rates to shield yourself from future interest rate increases and save in the long run.

DISADVANTAGES OF FIXED-RATE HOME LOANS

Navigating through these disadvantages is key to applying for a fixed-rate loan.

Inflexibility

Higher initial rates

Less features

End term reassessment

Why Choose US

Professional Guidance for Fixed Rate Loans

Choosing the right fixed-rate loan is crucial to managing your financial future. At Everrich Finance, we provide advice backed by crucial data to help you secure a loan that offers stability, certainty, and the most suitable terms based on your needs.

Tailored Advice

We assess your financial situation and guide you toward the best-fixed loan options tailored to your goals.

Customer Friendly Approach

From application to settlement, we handle the paperwork and negotiations, to take the burden off your shoulders.

Lender Comparisons

With access to over 30 lenders, we compare fixed-rate loan products to find competitive rates and terms that work for you.

Ongoing Support

We continue to assist you beyond loan approval, ensuring you get the right deal when it's time to refinance or adjust your loan.

We compare loans from a wide range of lenders

CORE ESSENTIALS

Home Loans For Investment Properties Explained

What as a fixed rate Loan?

A fixed rate loan is a type of mortgage where the interest rate is locked in for a specific time. Normally this is between 1 to 5 years, some lenders offer terms of up to 10 years.

During the fixed period, your repayments will stay the same for time that your loan is fixed, regardless of changes in market condition your interest rate will not change. Once your fixed rate ends, you have the option to either refix your loan at the rates available at that time or you can switch to a standard variable rate.

It is important to choose a fixed rate facility carefully. Because once you sign the loan agreement loans, you are committed to that lender for the period that you are fixed for. If you make any changes like sell your property or want to refinance there maybe quite costly break fees involved.

What are the benefit of a fixed rate loan?

Fixed rate loan could be a good option if you value stability and certainty in your repayments.

Here are some factors to consider:

Ultimately, the choice depends on how your loan is structure will be dependent on your financial situation and your comfort with potential changes in interest rates.

Disadvantage of fixed-rate loans

Inflexibility: Fixed-rate loans generally have less flexibility, often including penalties for early repayment or refinancing your loan.
Higher Initial Rates: Fixed-rate loans can initially be higher than variable-rate loans, meaning you might pay more if interest rates stay the same or decrease.
Less features: Generally Fixed-rate loans often have less features, such as redraw facilities or offset accounts, limiting your options for managing the loan.
Re-evaluation at the end of the term: When the fixed period ends, your loan typically changes to your revert rate – a variable rate determined by the lender – which might be higher than normal. You will need to reassess your financial situation and possibly renegotiate your loan terms with the bank.

Our team at Everrich Finance, we can help you with re-evaluating your loans to make sure that the lender you are with is still the most suitable for you.

Alternative to fixed rate

If a fixed rate loan is not suitable for you, there are other options that we can consider.

Variable rate loans: These loans have interest rates that fluctuate with the market. So effectively your repayments will drop if the rate comes down and when the rates goes up, your repayments will increase. Variable-rate loans generally have more flexibility, including features like redraw facilities and offset accounts.
Split Loans: A split loan combines fixed and variable rates. For example, you could take out a $500,000 loan and split it into two portions: $250,000 with a fixed rate of 5.69% for two years and $250,000 with a variable rate of 5.88 %. This way, you have the stability of fixed repayments on half of the loan, while the variable rate on the remaining portion of the loan allowing you to benefit if interest rates decrease.

Speak to us today on (03) 9034 5223 or enquire online.

Common fees for fixed rate loans

Each lender have different fees and charges. See below the common fees applicable for fixed rate loans:

Upfront Fees

Application fee: A once off fee charged for processing your loan application.
Valuation fee: Covers the cost of assessing the value of the property to be used as security.
Establishment fee: Covers the lender’s costs in setting up the loan.
Rate lock fee: Guarantees the rate of the loan for a specific time period until settlement.

Ongoing Fees

Closing Fees

How do I apply for a fixed rate home loan?

At Everrich Finance our experienced team of advisors will provide you with the care and attention that you need to tailor a solution for your home loan requirement. We make the process easier for you, from comparing lenders to securing pre-approval.

Speak to us today on (03) 9034 5223 or enquire online and our team at Everrich Finance will help you with your loan enquiry.

Why choose Everrich Finance to help with your loan requirements?

Choosing the right mortgage broker is important. Here’s why our customers are using Everrich Finance to assist with their loans:

Specialised acumen: Our team of financial advisors have experience in complex financial situations and those turned away by the banks.
Competitive rates: We help negotiate sharp interest rates to secure the right deal for you based on your current circumstances.
Personalised service: Our brokers provide tailored advice and guidance to help you throughout each step.
Wide range of options: With access to over 30 lenders, we search for products that meet your needs giving you access to numerous loan options.
Ongoing support: We offer continuous assistance throughout the life of your loan.
Local and international clients: We help clients in Australia and overseas buy property in Australia.
The icing on the cake is our services are free for you!

Fixed rate loans FAQ

Fixed-rate Home Loans: Your Questions Answered

1. For how long can I fix a home loan rate?

In Australia, you can typically fix a home loan rate for a period ranging from 1 to 5 years, Although some lenders offers a fixed terms of up to 10 years.
2. Can I redraw on my home loan?

Yes, most home and investment loans offer a redraw facility, which allows you to access extra repayments you've made into the loan. However, this feature is more common with variable rate loans than with fixed rate loans.
3. Can I switch from fixed to variable?

Yes, you can switch from a fixed rate loans to a variable rate loan, but there may be penalty fees for breaking the loan early.
4. What factors affect fixed-rate home loan rates?

Fixed-rate home loan rates are influenced by several factors, including the lender's cost of funding, forecasted economic conditions, the term of the fixed rate, and overall market interest rates.
5. What happens after the fixed home loan term expires?

After the fixed rate term expires, the loan typically goes to a variable revert rate unless you request to refix your home loan or refinance your loan.
6. What is a comparison rate?

A comparison rate includes the interest rate and fees associated with the loan usually recorded as a single percentage. It helps you understand the true cost of a loan and how it can affect your financial situation.
For example, if your loan has an advertised interest rate of 5.88% but the comparison rate is 6.14%, the comparison rate includes the set up fees, valuation, and ongoing fees. This provides you with a true reflection the overall rate of the loan.
7. What is rate lock?

Rate lock allows you to secure a fixed rate until settlement. Which protects you from rate increases before settlement. Depending on the lender the rate lock fee can cost you between $395 and $695 or 0.15% of the loan amount.
8. Why should I compare home loans?

By comparing home loans we can help you find the best interest rates, fees, and features for your situation, potentially saving you thousands of dollars over the life of the loan.
9. What are the different types of home loans in Australia?

The main types of home and investment loans in Australia include fixed-rate loans, variable-rate loans, split loans, interest-only loans, and line-of-credit loans.

There are also specialized loans like:
• Doctor Home Loans: That offer competitive rates and do not charge LMI for high-income doctors
• Expat Home Loans: For Australians citizen that live overseas
• Guarantor Loans: Allows us to use the equity in the guarantor’s property as security
• Bad-Credit Loans: Are for people who have traditionally had poor credit due to once off life events.
• Unusual employment loans: For borrower who are in roles that have unusual employment condition.
• Refinance Loans: To assist clients to switch to a new loan for more suitable rates or terms, access the equity in your home, or to consolidate debt.
• Investment Loans: For investment in property.

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