Fixed or variable: Choosing the right home loan

Australia Explained

English - October 05, 2021 02:23 - 6 minutes - 12.2 MB
News Government Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: New residents face longer wait for Centrelink payments

Next Episode: Here’s what you need to know about buying a private health cover

A variable loan offers more flexibility and comes with redraw and offset facilities, whereas a fixed-term loan keeps the interest repayments stable during the fixed term. But if you need to break the fixed term, the extra cost may be significant.