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Is fixed or variable rate better?

The answer to this question will depend on your personal situation and preferences.

If your budget’s tight 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 be better for you.

Or if you don’t mind your interest rate going up or down according to market fluctuations and would rather have a loan with features that can help you pay it off quicker (such as an offset account), then a variable rate loan might be a better option.

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 things 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.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

Our trade mark
Tiimely is a registered trademark of Tiimely Pty Ltd.