How Can A Split Home Loan Help You?
The home loan options on the market are vast and with so many different choices, it can sometimes be a challenge to pinpoint the best mortgage for you.
It often takes time to consider what sort of home loan you need and depending on your circumstances you are likely accommodating many financial variables.
One of the common aspects of home loans that borrowers have trouble deciding between is the type of interest rate they want to secure.
A split home loan option can allow you to make the most of the both the variable and fixed interest rates.
For example, the fixed interest rate segment of your mortgage will give you security because the interest rate will remain the same.
This can give you an element of security in the knowledge that part of your repayments will not change.
However, including a standard variable interest rate portion in your home loan selection will mean you can also benefit from loan features such as additional repayments and the redraw facility.
To get more detailed information about your situation, talk to a Loan Market mortgage broker today.