Ah yes, all the security of fixed interest rates and repayments, with none of the risk of variable rates and bank interest rates changes. A fixed rate home loan is a great option if you'd prefer to lock in your home loan repayments.
Read moreWell isn't that the $64,000 question. Literally. There's no easy answer, but having a quick play with our home loan and mortgage calculators particularly the home loan comparison calculator will show you the overall cost of different types of loan.
Well yes! Click through to home loan lenders and kick off the application process immediately simply hit the Go to site button.
Mortgage brokers can help find the right type of home loan for your needs (along with finding you insider deals and helping out with the home loan application). And Mozo's home loan negotiator service is a simple (and free) way to find the right home loan for your situation.
Page last updated May 22, 2019
Promoted
3.59% p.a.
fixed 1 year
4.14% p.a.
$1234
Owner Occupier, Interest Only
3.59% p.a.
fixed 1 year
4.14% p.a.
$0 ongoing fees, $0 annual fees & easy apply. Choose between weekly, fortnightly or monthly repayments.
$0 ongoing fees, $0 annual fees & easy apply. Choose between weekly, fortnightly or monthly repayments.
3.74% p.a.
fixed 3 years
4.01% p.a.
$395
$0.00
$0.00
yes - free up to $20,000 p.a.
no
no
80.00%
$100,000
$2,000,000
Fixed
Interest Only
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the UHomeLoan
Promoted
3.48% p.a.
fixed 3 years
3.85% p.a.
$1234
Owner Occupier, Principal & Interest
3.48% p.a.
fixed 3 years
3.85% p.a.
This 3 Year Fixed Rate Special Offer for purchase or refinance, with rate lock option available. No monthly or ongoing fees.
This 3 Year Fixed Rate Special Offer for purchase or refinance, with rate lock option available. No monthly or ongoing fees.
3.48% p.a.
fixed 3 years
3.85% p.a.
$520
$0.00
$0.00
yes - free up to $10,000 p.a.
no
no
80.00%
$50,000
$1,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Rate Special Offer
Promoted
3.68% p.a.
fixed 2 years
3.77% p.a.
$1234
Owner Occupier, LVR<90%
3.68% p.a.
fixed 2 years
3.77% p.a.
Receive 20,000 Velocity Points for every $100,000 drawn at settlement. Access a 100% offset account to save on interest.
Receive 20,000 Velocity Points for every $100,000 drawn at settlement. Access a 100% offset account to save on interest.
n/a
n/a
$0
$10.00 monthly
$320.00
yes - up to $10,000 per annum
no
yes - 1 year fixed term only
90.00%
$300,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the First Home Buyer Special Offer Reward Me Fixed 2 Year Rate Home Loan
Featured Product
3.58% p.a.
fixed 3 years
4.26% p.a.
$1234
Fixed, Owner Occupier, LVR less than 80%, Principal & Interest
3.58% p.a.
fixed 3 years
4.26% p.a.
Option to split your loan into fixed and variable for 1-7 years. Offset available on the variable rate facility. Extra repayments up to $30K during fixed rate period and free redraws available (above $500) when you're ahead of your payments.
Option to split your loan into fixed and variable for 1-7 years. Offset available on the variable rate facility. Extra repayments up to $30K during fixed rate period and free redraws available (above $500) when you're ahead of your payments.
3.58% p.a.
fixed 3 years
4.26% p.a.
$200
$395.00 yearly
$350.00
yes - free up to $30,000 during fixed rate period
no
no
80.00%
$40,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Flexible Home Loan
Promoted
3.89% p.a.
fixed 1 year
4.84% p.a.
$1234
Owner Occupier, Principal & Interest
3.89% p.a.
fixed 1 year
4.84% p.a.
Make free extra repayments up to $20K in the fixed period & No upfront fees.
Make free extra repayments up to $20K in the fixed period & No upfront fees.
3.79% p.a.
fixed 3 years
4.89% p.a.
$0
$395.00 yearly
$350.00
yes - free up to $20,000 during the fixed rate period
no
no
95.00%
$250,000
$749,999
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Tailored Home Loan
Promoted
3.59% p.a.
fixed 3 years
3.67% p.a.
$1234
Fixed, Owner Occupier, Principal & Interest, LVR<70%
3.59% p.a.
fixed 3 years
3.67% p.a.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
3.59% p.a.
fixed 3 years
3.67% p.a.
$0
$0.00
$400.00
yes - free
yes - free
no
70.00%
$150,000
$750,000
Fixed
Principal & Interest
Owner Occupier
Monthly
Read our Mozo Review to learn more about the Basic Home Loan
Promoted
3.39% p.a.
fixed 1 year
3.56% p.a.
$1234
Owner Occupier, Principal & Interest
3.39% p.a.
fixed 1 year
3.56% p.a.
Get full approval online. Tic:Toc’s award-winning platform could save you thousands with low fixed rates and no application, valuation or settlement fees. Fee free redraws. Add an optional offset account for $10 per month. Mozo Experts Choice Awards - Online Home Lender of the Year 2019
Get full approval online. Tic:Toc’s award-winning platform could save you thousands with low fixed rates and no application, valuation or settlement fees. Fee free redraws. Add an optional offset account for $10 per month. Mozo Experts Choice Awards - Online Home Lender of the Year 2019
n/a
n/a
$0
$0.00
$325.00
yes - free, up to $20,000
yes - free
Optional - $10 per month
80.00%
$50,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Home Loan
Promoted
Hot Deal QLD Gov only
3.75% p.a.
fixed 3 years
4.36% p.a.
$1234
Owner Occupier, Principal & Interest
3.75% p.a.
fixed 3 years
4.36% p.a.
Fixed Rate Home Loan Special, with no monthly fees and no extra penalty for extra repayments. Special offer, save up to $700 in upfront fees.
Fixed Rate Home Loan Special, with no monthly fees and no extra penalty for extra repayments. Special offer, save up to $700 in upfront fees.
3.75% p.a.
fixed 3 years
4.36% p.a.
$195
$0.00
$530.00
yes - free up to $10,000 p.a.
yes - free
no
90.00%
$150,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Rate Special
Promoted
3.68% p.a.
fixed 2 years
4.47% p.a.
$1234
LVR<90%, Owner Occupier, Principal & Interest
3.68% p.a.
fixed 2 years
4.47% p.a.
A complete fixed home loan with a $0 application fee and property valuation fee. Borrow up to 90% of the property value.
A complete fixed home loan with a $0 application fee and property valuation fee. Borrow up to 90% of the property value.
n/a
n/a
$250
$395.00 yearly
$338.20
yes - free up to $10,000 a year
no
yes - partial only
90.00%
$200,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Complete Fixed Home Loan
Featured Product
3.73% p.a.
fixed 3 years
4.76% p.a.
$1234
Fixed, Owner Occupier, LVR<80%, Principal & Interest
3.73% p.a.
fixed 3 years
4.76% p.a.
Option to split your loan into fixed and variable. Offset available on the variable rate facility. Extra repayments up to $30K during fixed rate period
Option to split your loan into fixed and variable. Offset available on the variable rate facility. Extra repayments up to $30K during fixed rate period
3.73% p.a.
fixed 3 years
4.76% p.a.
$400
$0.00
$350.00
yes - free up to $30,000 during fixed rate period
no
no
80.00%
$40,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Flexible Home Loan
Promoted
3.59% p.a.
fixed 2 years
4.54% p.a.
$1234
Owner Occupier, Principal & Interest
3.59% p.a.
fixed 2 years
4.54% p.a.
No minimum loan amount. Free additional repayments up to $5,000 per year.
No minimum loan amount. Free additional repayments up to $5,000 per year.
3.69% p.a.
fixed 3 years
4.48% p.a.
$450
$10.00 monthly
$320.00
yes - free up to $5,000 p.a
no
no
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Discount Fixed Rate
Promoted
3.59% p.a.
fixed 3 years
3.97% p.a.
$1234
Owner Occupier, Principal & Interest
3.59% p.a.
fixed 3 years
3.97% p.a.
Fast, easy apply & no ongoing fees. Choose between weekly, fortnightly or monthly repayments.
Fast, easy apply & no ongoing fees. Choose between weekly, fortnightly or monthly repayments.
3.59% p.a.
fixed 3 years
3.97% p.a.
$395
$0.00
$0.00
yes - free up to $20,000 p.a.
no
no
80.00%
$100,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the UHomeLoan
Promoted
3.69% p.a.
fixed 2 years
Interest rate
3.99% p.a.
Comparison rate*
(Terms & Conditions Apply)
Mozo online exclusive: Pay no ongoing fees. Available for loans up to $2,000,000 with a 20% deposit.
Promoted
3.79% p.a.
fixed 2 years
3.96% p.a.
$1234
Investment
3.79% p.a.
fixed 2 years
3.96% p.a.
100% Offset with Debit Card for $10 per month. Loan splits available. Extra repayments may be made at any time without penalty.
100% Offset with Debit Card for $10 per month. Loan splits available. Extra repayments may be made at any time without penalty.
n/a
n/a
$675
$0.00
$0.00
yes - free
no
no
80.00%
$50,000
$2,000,000
Fixed
Principal & Interest
Investor
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the 2 Year Fixed Rate Wealth Maximizer
Promoted
3.79% p.a.
fixed 2 years
3.92% p.a.
$1234
Owner Occupier, Principal & Interest
3.79% p.a.
fixed 2 years
3.92% p.a.
Available for both Principal & Interest and Interest only. Available for purchase or refinance. 2 or 3 year fixed rate options available. No ongoing fees. Package your home loan with your investment and get the same low fixed rate.
Available for both Principal & Interest and Interest only. Available for purchase or refinance. 2 or 3 year fixed rate options available. No ongoing fees. Package your home loan with your investment and get the same low fixed rate.
3.89% p.a.
fixed 3 years
3.93% p.a.
$520
$0.00
$0.00
yes - free up to $10,000 p.a.
no
no
80.00%
$50,000
$1,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Loan Fixed 80
Promoted
3.69% p.a.
fixed 3 years
4.48% p.a.
$1234
Owner Occupier, Principal & Interest
3.69% p.a.
fixed 3 years
4.48% p.a.
No minimum loan amount. Free additional repayments up to $5,000 per year.
No minimum loan amount. Free additional repayments up to $5,000 per year.
3.69% p.a.
fixed 3 years
4.48% p.a.
$450
$10.00 monthly
$320.00
yes - free up to $5,000 p.a
no
no
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Discount Fixed Rate
Promoted
4.48% p.a.
fixed 2 years
4.32% p.a.
$1234
Investment, Interest Only
4.48% p.a.
fixed 2 years
4.32% p.a.
Available for both Principal & Interest and Interest only. Available for purchase or refinance. 2 or 3 year fixed rate options available. No ongoing fees. Package your home loan with your investment and get the same low fixed rate.
Available for both Principal & Interest and Interest only. Available for purchase or refinance. 2 or 3 year fixed rate options available. No ongoing fees. Package your home loan with your investment and get the same low fixed rate.
4.64% p.a.
fixed 3 years
4.37% p.a.
$520
$0.00
$0.00
yes - free up to $10,000 p.a.
no
no
80.00%
$50,000
$1,000,000
Fixed
Interest Only
Investor
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Loan Fixed
Promoted
3.89% p.a.
fixed 2 years
5.21% p.a.
$1234
Owner Occupier, Principal & Interest, Fixed
3.89% p.a.
fixed 2 years
5.21% p.a.
No upfront fees & Make free extra repayments up to $20K in the fixed period
No upfront fees & Make free extra repayments up to $20K in the fixed period
3.89% p.a.
fixed 3 years
5.09% p.a.
$600
$8.00 monthly
$350.00
yes - free up to $20,000 during the fixed rate period
no
no
95.00%
$20,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Tailored Home Loan
Promoted
3.64% p.a.
fixed 1 year
3.66% p.a.
$1234
Owner Occupier, Principal & Interest
3.64% p.a.
fixed 1 year
3.66% p.a.
This home loan is available for purchase or refinance, complete with 1, 2 or 3 year fixed rate options. Minimum 10% deposit required.
This home loan is available for purchase or refinance, complete with 1, 2 or 3 year fixed rate options. Minimum 10% deposit required.
3.99% p.a.
fixed 3 years
3.96% p.a.
$520
$0.00
$0.00
yes - free up to $10,000 p.a.
no
no
90.00%
$50,000
$1,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Home Loan 90
^See information about the Mozo Experts Choice Awards for Home Loans
Want more? Compare all 529 home loans in the Mozo comparison engine.
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Views, news, tips and guides to help find the home loan for you.
To fix or not to fix? That is the question posed by many home buyers across Australia. So to help you decide whether a fixed or variable interest rate is your borrowing match, we've compiled this quick guide that runs through the benefits of a fixed interest rate and the traps to watch out for. You can also use the above table to compare fixed rate home loans quickly and easily.
A fixed home loan rates, as the name suggests, is a home loan that has an interest rate that is set for a fixed period, such as three years. During this period your repayments will be locked in, making it easier to budget and giving you peace of mind that you won't have to factor in any unexpected rate changes that could impact your monthly household budget over the loan term.
Banks will have fixed rate loans available for varying terms (up to 10 years) but the most popular terms for fixed rate home loans are between one and three years. Fixed home loans can have a higher interest rate than variable rate options so if you fix for a longer period of time you could end up paying a lot more if interest rates stay the same or go down over that period. Of course if rates go up the opposite will be true.
At the end of the fixed period, borrowers will have the option to select another fixed term or switch to a variable rate loan. The revert rate, ie the rate that the home loan will automatically revert to when the fixed period is over, is usually higher than the market rate so if you do choose to fix be prepared to shop around at the end of the term or negotiate with your lender to get a better deal for staying with them.
There was a time when if you took out a fixed home loan rate you had to give up many of the features that come with most variable rate home loans like offset accounts and the ability to make extra repayments. But this is no longer the case for all fixed rate home loans. There are some restrictions though and these should be weighed up before you choose to fix.
Extra repayments: With a fixed rate home loan you may be able to make extra repayments but generally there will be a cap or limit to how much you can make each year or over the term of the loan.
Redraw. If you can make extra repayments you may also have the ability to redraw this amount. With fixed rate home loans generally there will be a fee for this and a minimum redraw amount.
Offset account: Some fixed loans will have an offset facility but unlike a variable rate home loan where you can offset 100% of the loan amount, with a fixed rate home loan you will only be able to offset a portion say 10 - 40% of the loan.
Repayment flexibility: Fixed rate home loans will enable you to select the repayment frequency that suits you, the same as a variable loan. Options include weekly, fortnightly and monthly repayments.
Loan-to-Value ratio: Fixed home loan rates have different LVR requirements to variable rate loans so while you might need an LVR of 80% for a variable rate loan you may only need a LVR of 90% for a fixed term loan.
Split loan: Many fixed rate loans will have the option of splitting a portion of the fixed loan with a variable rate. There may be some limits to how much you can split but it can mean that you get the benefits of rate certainty for the fixed portion of your loan and added flexibility on the variable.
As with variable rate home loans there are some common fees that are payable upfront, and some fees payable on an ongoing basis or at loan termination.
These include:
application fee
service fee (monthly or annual)
discharge fee
The biggest difference between the fees of a fixed and a variable rate home loan is if you decide to switch loans during the loan period or pay out the loan early. With a fixed rate loan you will be charged a 'break fee' and it can be very high. The break fee would be determined by your lender based on how much you have left of your term and the rate you locked your loan in for so it is very difficult to work out how much this will be in advance. You would need to get your lender to provide you with an estimate for this.
This is where Mozo's handy calculators come in. We can help you compare fixed rate home loans with variable rate loans or compare fixed rate terms to find the best home loan for you.
Here's a rundown of our top tools:
Market snapshot table: A selection of advertised fixed rate deals to help you compare rates and features of banks with fixed rate loans keen for your business. You'll find this table at the top of this page.
Repayment calculator: Mozo's home loan comparison table will help you to crunch the numbers based on your loan amount and the value of the property. You can then filter by the fixed rate term and our mortgage repayments calculator will show you how much your monthly repayments will be.
Comparison Calculator: Can't decide between two fixed rate loans? Simply plug in the details of each loan into the calculator and it will show you which loan will be cheaper.
Rate change calculator: Wondering how long you should fix for or when it would be cheaper to get a variable rate loan? Play around with our rate change calculator to see how much your repayments would go up on a variable rate if rates were to change.
Reviews. Thousands of customers have reviewed their home loan on Mozo so read up to see what they say about the fees and costs of their fixed loans before you take the home loan plunge. Check out our home loan reviews here.
I do not have a complaint about P&N. What is the point of complaining when they fail to resolve...
Read full review
I do not have a complaint about P&N. What is the point of complaining when they fail to resolve the issue. I conceded defeat a long time ago. I had two ‘interest only’ home loans with them until May 2017 when they came to the end of the three year terms. I went to see them and informed them that I wished to continue with this arrangement. I also explained that my wife was dying and this was causing me a great deal of distress. They seemed very concerned, offered their sympathy and assured me that they would not add to my problems. They did the exact opposite. They turned both loans into principal and interest and increased the rates to about 5.7%. One of the reasons given was that as my wife was dying (she died 8/8/17), I would no longer benefit from her income. My wife’s income had fallen from a very moderate level to nothing over the previous four years. Therefore, due to her failing health, she was not, and had not been making a significant contribution to our joint incomes or some years. Despite my situation P&N increased my payments by $3,000 a month. Very sympathetic. Just when I needed some help, I received in its place, a kick in the guts from the P&N bank. They really did talk nicely, sounded very concerned, but then screwed me when I was at my most vulnerable. I would point out that I have never missed a payment, even those at the current extortionate rate.
Less
Bob | Western Australia
reviewed about 1 month ago
Very high interests rates and they also removed a lot of payment methods which makes it very...
Read full review
Very high interests rates and they also removed a lot of payment methods which makes it very difficult to pay on time increasing the chance of you getting charged with late fees.
Less
Melinda | Victoria
reviewed 2 months ago
Very happy we switched to CommBank. Great range of accounts and fantastic customer service.
Read full review
Very happy we switched to CommBank. Great range of accounts and fantastic customer service.
Less
Helen | Victoria
reviewed 3 months ago
