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What is a fixed rate home loan?

A fixed rate home loan is where the interest rate is locked in for a certain period (usually 1-5 years). At the end of this time, you can either commit to another fixed rate or revert to a variable interest rate.

A fixed rate loan is useful for budgeting because repayments are the same every time, but it 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 not being able to pay your loan off early.

The exception to this is a Tiimely Own fixed rate home loan. Unlike most lenders, our fixed rate 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.

Found in:

  • Loan features

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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.