29/05/2026
While we do not handle home loans here at Bizi Loans, our clients ask us for home loan advice all the time!
When buying, refinancing, or renegotiating a mortgage, the biggest question is always whether to lock in a fixed rate or ride the market with a variable rate. If you are leaning towards fixing, here is exactly what you need to keep in mind.
๐ง๐ต๐ฒ ๐ฎ๐ฝ๐ฝ๐ฒ๐ฎ๐น ๐ผ๐ณ ๐ฐ๐ผ๐ป๐๐ถ๐๐๐ฒ๐ป๐ฐ๐.
A fixed-rate loan locks your interest rate in for a set periodโusually between one and five years. This gives you total peace of mind and allows you to budget your household expenses perfectly, shielding you from sudden market rate hikes.
๐ง๐ต๐ฒ ๐ต๐ถ๐ฑ๐ฑ๐ฒ๐ป ๐ฟ๐ฒ๐๐๐ฟ๐ถ๐ฐ๐๐ถ๐ผ๐ป๐.
That stability does come with a few trade-offs. Fixed loans often have strict limits on how many extra repayments you can make. Plus, if you need to sell, refinance, or break the loan before the fixed term ends, you could be hit with significant exit fees.
๐ฃ๐ฟ๐ฒ-๐ฎ๐ฝ๐ฝ๐ฟ๐ผ๐๐ฎ๐น๐ ๐ฎ๐ป๐ฑ ๐ฟ๐ฎ๐๐ฒ ๐น๐ผ๐ฐ๐ธ๐.
You can actually apply for a fixed-rate loan before you even find your dream property. To take it a step further, you can usually pay a fee to lock in that exact rate for 60 to 90 days at the time of application, protecting your borrowing power from sudden increases before settlement.
Fixed rates offer incredible stability, but they might not provide the best value if market interest rates suddenly drop. Always speak to a licensed Mortgage Broker before making any major property decisions to ensure you have the full picture.
And of course, when it is time to fill that new garage with a car, or fund your next business venture, the Bizi Loans team is ready to help!
๐๐ฆ๐ฏ๐ฆ๐ณ๐ข๐ญ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ฐ๐ฏ๐ญ๐บ.