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Is a fixed or variable rate better?

This depends on your personal situation and preferences.

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 may suit you better (depending on the market conditions that apply at the time).

Or if you don’t mind your interest rate going up or down according to market fluctuations then a variable rate loan might be a better option. Variable home loans typically come with features that can help you pay it off quicker (such as an offset account), however our Tiimely Own home loans offer an offset facility with both our variable and fixed rate home loans that allows you to link up to six offset accounts.

Or if you can’t decide whether to go with a fixed or variable rate, you can ask your lender about splitting your loan by assigning a certain portion to a variable rate home loan and the rest to a fixed rate home loan.

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Legal information about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Other legal information
At Tiimely Home we are not financial advisers and recommend seeking independent financial and legal advice to check how the information we provide aligns with your individual circumstances.