Fixed-Rate Loans
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Fixed-Rate Loans: Stability and Predictability for Your Mortgage
With a fixed-rate loan, you can enjoy the certainty of knowing your interest rate won’t change for a set period. This loan type is perfect for those who prefer stability in their monthly repayments, no matter how the market fluctuates.
What Are Fixed-Rate Loans?
Fixed-rate loans lock in your interest rate for an agreed-upon period, typically between 1 to 5 years. This means your repayment amount will remain the same throughout the term, offering peace of mind in managing your budget.
Key Features of Our Fixed-Rate Loans
- Rate Stability: Your interest rate stays the same during the fixed period.
- Budget Control: Plan with confidence, knowing exactly what your repayments will be.
- Flexibility to Refinance: Option to switch to variable rates after the fixed term ends.
Rate Stability: Lock in Your Interest Rate
With a fixed-rate loan, your interest rate remains unchanged during the fixed term, regardless of market conditions.
- Predictable Repayments: Know exactly how much you’ll pay each month.
- Protection from Rate Increases: If the market rates rise, your rate stays the same.
- Long-Term Planning: Allows for clear financial planning without the fear of rising costs.
Budget Control with Fixed Repayments
Fixed-rate loans help you manage your budget effectively, as you’ll know the exact amount of each payment throughout the fixed period.
- Easy Budgeting: Fixed repayments simplify managing household finances.
- Peace of Mind: No surprises from fluctuating interest rates.
- Secure Investment: Provides a stable foundation for your mortgage, especially during uncertain economic times.
Once the fixed term ends, your loan will typically switch to a variable rate unless you choose to refinance or lock in a new fixed rate.
Yes, but early repayment may incur break costs, depending on your loan terms.
Fixed-rate terms generally range from 1 to 5 years, though some lenders may offer longer periods.