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Fixed Rate Home Loans allow the borrower to fix the interest rate on a loan for a selected period of 1 to 5 years. During the nominated fixed period the monthly repayments remain the same until its expiry which then converts to the standard variable rate. Fixed loans often do not offer the flexibility to make extra repayments and consequently shorten the duration of your loan. Ideally for: Borrowers who want to lock into a fixed rate and safeguard against potential interest rate rises.
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