In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
7, 10, 12 and 15 year fixed rate loans
Can you fix your loan for longer than 5 years?
Yes you can! Should you? We don’t think so!
In our opinion the risk of a significant break cost is just too high. For more details about break costs please go to our dedicated fixed rate page. The example there uses a 5 year fixed rate term, if you take the same example but over a say 15 year fixed rate loan the break costs could be around $78,000!
Still interested in a long term fixed rate?
Only a few lenders offer long term fixed rates with the longest that we are aware of being 15 years. For that loan the lender will only provide the product to investors. This is no coincidence, the reason for this is to protect the lenders reputation as no lender wants to end up on a current affairs program being shown to charge a Mum and Dad home loan customer an enormous break cost. Investors on the other hand are perceived to be able to make an informed decision for better or worse.
How much are long term fixed rates?
Generally long term fixed rate will be priced at around 0.5% pa - 1.00% pa above current 5 year fixed rates.
Want to learn more about long term fixed rates?
Our Current Lender Panel
