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Helping people achieve their financial goals

Helping people achieve their financial goals

Helping people achieve their financial goals

Helping people achieve their financial goals

Helping people achieve their financial goals

How does a variable interest rate home loan differ from a fixed interest rate home loan

A variable interest rate home loan can move up or down according to market forces, which impacts the amount of interest you pay. A variable interest rate home loan can offer greater flexibility, such as letting you make large extra repayments and the ability to redraw money from those repayments.

On the other hand, if you prefer the security of knowing exactly what your repayments will be for a given period of time, then fixing your interest rate is a good idea. A fixed rate means the rate stays the same for the set period of time that you choose. Lenders will often let you pay up to $30,000 in additional repayments for the term of the fixed period (1-5 years). When you take a fixed rate home loan you are signing a contract to lock in your interest rate for an agreed period of time. If you then decide to switch or prepay your loan early, you may have to pay break costs.

Break costs are complex to calculate and you would need to contact your lender at the time to get an accurate cost. A simple way of estimating the break cost is to take the difference between the interest rate of your current fixed rate home loan less the current rate of the same loan facility and multiply this by the home loan balance and remaining term. eg. 5.5% (fixed rate taken) – 4.5% (current fixed rate over same term) x $300,000 (loan balance) x 2 years (time remaining) = $6,000.

At Mortgage Broker Plus Adelaide SA, we find you the best home loans from 45 of Australia's leading lenders then assist you with your home loan application.

Whether you are looking to buy a home, renovate your property, refinance your current home loans or invest in property our mortgage brokers can assist you.

How we can help you with your finance?

We give you choice

We first assess your current financial situation then structure a finance strategy using 45 of Australia's leading home loan product providers. We take the time to discuss the solution with you to ensure a home loan structure that will be financially beneficial over the long term.

We work with you

We get to know you personally to understand your personal circumstances and use our experience to find the home loan products that will meet your needs. We work with you and not for a bank.

We work for you

We take care of the paperwork and manage the application process through to settlement.

Were about more than just home loans

We can also help you arrange insurance cover for your home or yourself including home and contents insurance, life insurance and income protection.

We get to know you personally to understand your unique circumstances.

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