Generally speaking, if interest rates are relatively low, but are about to increase, then it will be better to lock in your loan at that fixed rate.
Fixed
Pros
Increases in rates won’t affect you – reduces any stress you may have about this
Makes budgeting easier as repayments will always be the same
Could cost you less
Cons
If interest rates go down, you won’t get the benefits
There is less flexibility in changing your loan and can be expensive if you break the contract
Fewer features – typically borrowers aren’t able to redraw funds or link an offset account to their loan
Variable
Pros
Allows flexibility on repayments (wider range of repayment options)
Likely to pay less interest overall (indicated by several studies)
You benefit from drops in interest rates
Easier to refinance and switch to a different lender or home loan product
Cons
If rates rise, you will end up paying more
It is more difficult to budget as rates can change at any time. Meaning borrowers are required to have more flexibility
What Clients Are Saying About Us
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rita lee
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We had Shaz who was professional, managed our anxiety, and we were so happy with the results and full approval. Found us a very competitive interest despite the complexities with our case. 10/10 experience.
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Nyange Ngandu Simbi
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Many thanks Rob for helping me out, you are just excellent broker. Many thanks.
Theodor
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Anshika Thakur
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Honestly, so glad I went with Shaz and Sahil at Strawberry Finance. They were always there whenever I had questions and made sure I understood everything properly. The whole process was much easier than I expected. Thanks heaps, guys, really appreciate all the help!
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Sam Key
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I would highly recommend Shaz at strawberry finance.
This is our second time with Strawberry Finance and get got approved in 2 days!
The entire experience was easy and stress free.
Shaz was able to secure a much better rate than previously on and was able to save us alot of money!!
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Hayley Hall
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We recently had a particularly complex matter, and the team at Strawberry Finance were fantastic to deal with. They were on top of everything, always approachable, responsive and happy to help, which made a real difference. We genuinely appreciate their support and always enjoy working with the team at Strawberry Finance. Highly recommend
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Sai Phone Myint Oo
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As a first home buyer, I’m very grateful for the support I received from Shaz. He has been extremely helpful, professional, and very quick to respond to any questions I had throughout the process.
I would highly recommend Shaz, Sahil and Strawberry Finance Team to anyone looking for a reliable and supportive mortgage broker.
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Kash ..
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We had a great experience with Sahil, Shaz and Nitin at Strawberry Finance. Sahil was professional and approachable, Shaz was extremely helpful and responsive, and Nitin was also great throughout the process. The whole team made everything smooth and easy to understand and genuinely cared about helping us. Highly recommend Strawberry Finance for anyone looking for a reliable mortgage broker.
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Kate White
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We had the best experience working with Sahil and Shaz and I cannot recommend them enough. So reliable, great communication and genuinely went above and beyond for us throughout the entire process.
Nothing ever felt like too much trouble, they were always quick to answer our questions and kept us updated every step of the way.
We felt completely looked after from start to finish and wouldn’t hesitate to work with them again. If you’re looking for brokers who genuinely care about getting the best outcome for you, these are your guys. Thank you so much!
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Deng Aban
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Shaz and Sahil made the whole process feel way less stressful than I expected. They were prompt, straightforward, and just got things done. No fluff, no chasing. Felt like I was actually being looked after rather than just processed.
