Choosing the right lender and the right loan
When buying your first home, it’s important to choose the right lender and the right loan. It pays to research, research, research! The time you invest now will benefit you in the long run.
Lenders typically offer three different types of loan products – variable, fixed and split. With variable rate loans, the interest rate you pay moves with the market. For fixed loans, the rate you pay and the repayments are fixed for a set period. Split loans give you the best of both worlds – you can fix part of your loan and leave the balance at the variable rate.