Fixed Rate Home Loans
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A Fixed-Rate Home Loan is one of the most popular and reliable ways to finance your property in Australia. It offers a secure interest rate for a set period, typically between 1 to 5 years, meaning your monthly repayments remain the same regardless of market fluctuations or official interest rate changes.
Did You Know?
Budgeting just got easier!
With a fixed-rate home loan, your monthly repayments remain the same throughout the fixed term. This predictability makes it easy to plan your budget, manage expenses, and avoid unexpected financial surprises. Knowing exactly what you’ll pay each month gives you peace of mind and helps you focus on other important things in life, like enjoying your new home!
5 Reasons to Choose Lionskey Finance for Your Fixed-Rate Home Loan
- Access to a Wider Market
- Expert, Independent Advice
- Negotiation Power
- Strategic Planning
What is a Fixed-Rate Home Loan and how does it work?
A Fixed-Rate Home Loan has an interest rate that is locked in and remains the same for a set term (usually 1 to 5 years). This guarantees your monthly repayment amount will not change during that period, simplifying your budgeting.
What happens when my fixed term ends?
At the end of the fixed term, you can choose to re-fix the loan for a new term or allow it to revert to the lender’s variable interest rate. Lionskey Finance can help you review the best available rates before your term expires.
Can I make extra repayments on a Fixed-Rate Loan?
Most fixed-rate loans restrict extra repayments, often capping the amount you can pay off annually. Exceeding this limit usually results in significant “break costs”.
What are 'break costs' and when do they apply?
Break costs are fees charged if you end the fixed-rate contract early—by refinancing, selling the property, or paying off the loan. These costs are generally higher when market interest rates have dropped since you first fixed.
Should I choose a Fixed or Variable Rate, or a Split Loan?
Fixed offers stability, while variable offers flexibility for extra repayments and features like offset accounts. A split loan offers a balance by locking in some of the debt while leaving the rest variable. Consulting with a Lionskey Finance expert is recommended to find your optimal structure.