Can I Obtain a Half Fixed Rate and Half Variable Rate Mortgage?
While some homebuyers shy away from variable-rate mortgages, they would like some of the benefits that it provides. For example, variable rates can drop. Therefore, the repayment drops with it. Other homeowners prefer the predictability that fixed-rate mortgages provide. However, some industry insiders believe that variable-rate mortgages provide a lower cost over their life compared to the fixed-rate version.
Homebuyers who find themselves torn between the two options don’t need to pick between the two. Instead, they can opt for a half fixed-rate and a half variable-rate feature known as the split loan. Homebuyers obtain a mortgage. Then, they add the split loan feature on top of it. Therefore, they acquire the best of both worlds.
Mortgage House offers several split loans to consider including the:
- Advantage Standard Home Loan 60
- Advantage 1 Year Fixed
- MHouse Prime Essentials 1 Year Fixed
Mortgage House opened its doors in 1986 as a non-bank lender. We continue innovating in the market. Therefore, we provide products such as the split loan to put our clients in a position to succeed financially. We understand that some homebuyers prefer safety and predictability. We also work with owner-builders, owner-occupiers, and investors who want to leverage their financial position.
Try our Mortgage House mortgage calculator for free.
Half Fixed Rate Mortgage Options Conclusion
In 2022, homebuyers and homeowners have several financing options available to them. Those who wish to obtain a half fixed rate and half variable rate can take a look at the split loan. Our Mortgage House lending specialists can go into further detail.