Fixed Term Home Loan with Fixed Interest Rate
This loan has a set interest rate for a period of time. This means you know exactly what your repayments will be for your fixed rate term.
If you are unsure about whether to take a fixed or variable rate - you should consider a Split Loan.
Advantages
- Fixing the interest rate for a period of time insures against future rate rises.
- It is easy to budget for the same regular repayment each month.
Disadvantages
- If interest rates fall you may pay more for your loan than borrowers on variable rates.
- Most lending institutions penalized you for making additional repayments.
- You may be penalized if you pay off your home loan before the due date.
Carruthers Financial Services was established in 2000 filing the service void left by the major banks by providing a mobile, one on one service. We not only help you arrange your finance, but we continue educate and work with you on a regular basis, so you can achieve the Australian dream of owning your own home sooner. 
