Which loan features matter to you?
A fixed rate can give you certainty about repayments for an agreed period. A floating rate can change, and may offer more flexibility for extra repayments. Some borrowers split a loan into portions with different terms. The costs and conditions depend on the lender.
Prepare for the first conversation
- Know how much you have available for a deposit and where the funds will come from.
- List income, regular outgoings, debts and credit limits for everyone applying.
- Note any expected changes in work, income or household expenses.
- If you already own a property, bring your loan balances and fixed-rate expiry dates.