What is a Split Home Loan?
The latest in home loans news
Big bank home loan war as ANZ slashes fixed rates to 2.68%
Australia’s fourth largest lender, ANZ, has today slashed its fixed rate home loans by up to 0.86 per cent.
A split rate loan puts a fixed rate of interest on a percentage of what you owe, and a variable interest rate on the remainder, so you can enjoy benefits from both rate types. If your lender lowers its variable interest rates, you’ll enjoy some savings on a percentage of your repayments. And if variable rates rise, the percentage of your loan with the fixed rate should help to minimise the impact on your loan’s affordability.