Conversations with a Pug – Switching between fixed and variable interest rates?




If you’ve ever done it before, you will know that refinancing can feel a bit like starting your home loan journey from scratch. You’ve got to compare interest rates and loan terms and make sure you have enough flexibility to cover your repayments for the next few years.

When refinancing, my clients often find themselves switching between fixed and variable rates depending on their current financial situation. This can alter how they pay off their mortgage completely.

Here are some things you should consider before switching to a variable interest rate.
Exiting a fixed rate contract before the term finishes could be costly
Be prepared for your repayments to fluctuate as interest rates change
You can split your loan between fixed and variable rates if you would like to lock in a portion of your repayment to a set amount

If you’re looking to refinance and you’d like to discuss whether a fixed or variable rate is right for you, let’s talk!

My Very Best To You Always,