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Do you have the best home loan? A split home loan could be right for you. It's smart and it can also provide peace of mind.
Get your mortgage application started
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Westpac mortgage info
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| Splitting your home loan between floating and fixed interest rates can have the following advantages: |
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having a portion on a floating or short-term fixed rate gives you access to lower interest rates |
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it’s flexible - you can pay the floating portion off as fast as you like without additional cost |
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the greater the fixed portion is, the more certainty you will have knowing what your monthly repayments will be |
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you can choose a fixed rate term that’s right for you. Even select a combination of fixed terms on the one loan |
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the floating portion provides you the flexibility to redraw on your loan, whatever need may arise |
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the floating portion can be changed into a fixed rate term at any stage. |
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try our split home loan calculator. |
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| Can you see yourself paying off your loan ahead of time either by increasing your payments, or lump sums? |
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| Having a portion of your loan on a floating rate gives you the flexibility to pay off that portion as soon as you can. |
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| Are you comfortable with your repayment changing in the event of increasing interest rates? |
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| If you are, take advantage of great short term fixed or floating rates. If not, consider having more fixed. |
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| Is there a chance you may be selling your home soon? |
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| A floating rate may make more sense, providing you with the flexibility to repay the floating portions earlier without additional cost. |
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| Are you planning on having children or other lifestyle changes within the next few years? |
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| One of our longer term fixed rate options may suit you, giving you more payment certainty. |
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| Does the idea of having consistent repayments suit your budget needs? |
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| Consider a higher portion of your loan on a longer term fixed rate to provide you greater repayment stability. |
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| Do you want to take advantage of lower interest rates available now, but keep your repayments the same level should interest rates rise? |
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| Have the majority of your loan on floating or short term fixed interest rates, but set your regular payment level higher so that if interest rates rise, your regular payment can stay the same. |
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