If a fixed home loan isn't for you, there is another option; variable rates. Variable interest rates aren't fixed, and instead fluctuate as the market and lender interest rates change.
A rate allows your mortgage repayments to increase or decrease, depending on the interest rates. So they offer the advantage of making the most of lower interest rates but also come with the risk that the rate will increase when interest rates are higher. Since the mortgage repayments are not locked in, it can be harder to budget for your repayments with certainty.
If you’re considering a variable rate, it's wise to understand that future changes in interest rates may impact your future repayments.
We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Qudos Bank operates and where our team members reside.
