What is LMI? Everything about Lenders Mortgage Insurance
What is LMI? Lenders Mortgage Insurance or LMI, as the name suggests, is insurance for lenders. Lenders hedge their bets on all loans by using...Read More
Find the winning combination between a fixed and variable rate for your home loan.
A split loan is when you divide your original home loan in into several smaller loans totalling to the original loan amount. Lenders usually offers borrowers the flexibility to split a loan into in a personalised fashion, such as 80% variable and 20% fixed rate. This can work well during uncertain financial times because you will have the benefit of certainty with your loan repayment from a fixed rate loan and have access to features that is only available in a variable rate home loan.
Lenders usually offers borrowers the flexibility to split a loan into in a personalised fashion, such as 80% variable and 20% fixed rate. This can work well during uncertain financial times because you will have the benefit of certainty with your loan repayment from a fixed rate loan and have access to features that is only available in a variable rate home loan.
The calculator gives you quick results that allow you to make an informed decision regarding a split loan. If you are unsure how to structure your split loan, you can speak to one of our mortgage specialists today.
The split calculator is easy to use and all you need to do is enter your information and let our calculator do the math for you. You will need to have some of the home loan information handy.
Once you put all the relevant information in, the calculator will help you work out the total monthly repayments on the split loans during the fixed period and your new loan repayment once your fixed period expires.
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Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn’t take into account any product features or any applicable fees.
*2.99% Interest rate based on an Owners Occupied, Principal and Interest, 3 years fixed period, minimum loan size of $300,000, maximum LVR of 80%, over a 30 year term. Eligibility subject to servicing requirements, contact one of our specialised mortgage brokers for more information.
^4.19% Comparison rate based on a loan of $150,000 over a 25 year term. WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.