Remove the uncertainty of rate rises with a fixed rate home loan.
Fixed rate home loans offer peace of mind against rising repayments, which allows you to budget with confidence. Unlike a variable rate home loan where repayments move up and down in accordance with the cash rate, fixed rate repayments remain unchanged during the initial fixed term.
This means that for the length of your fixed rate term — usually between one and five years — you’ll know what your repayments will be.
UBank UHomeLoan Fixed Rate
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)
fixed rate
comparison rate
UBank UHomeLoan Fixed Rate
Apply for A one year fixed rate offer with no ongoing bank fees.
- Interest rate of 3.59% p.a.
- Comparison rate of 4.14% p.a.
- Application fee of $395
- Maximum LVR: 80%
- Minimum borrowing: $100,000
- Max borrowing: $1,000,000
Compare the latest fixed rate home loans below
Compare the latest fixed rate home loans below
Compare the latest fixed rate home loans below
Compare the latest fixed rate home loans below
Compare the latest fixed rate home loans below
Aussie Home Loans is both a lender and a mortgage broker, and offers a range of services.
- FREE Suburb and Property Report with every appointment.
- Access 3,000+ loans from over 20 lenders.
- Get expert help with your loan application, including paperwork and eligibility.
- Over 1000 brokers who are able to help you in your local area.
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Compare fixed rates
- UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I) - 4.01% p.a. comparison rate. A low rate available for refinancers only.
- Greater Bank Ultimate Home Loan - Discounted 3 Year Fixed LVR ≤90% ($150K+ Owner Occupier) - 4.44% p.a. comparison rate. A low rate loan offering package discounts. Borrowers in QLD, NSW and ACT only.
- AMP Basic Package Fixed Loan - 3 Years (Owner Occupier, P&I) - 4.2% p.a. comparison rate. This loan has a 100% offset account and a low deposit option.
- IMB Platinum Package Fixed Home Loan - 3 Year Fixed (LVR < 90% Owner Occupier) - 4.77% p.a. comparison rate. Package fixed rate loan with a competitive interest rate.
How does a fixed rate benefit borrowers?
A fixed rate home loan benefits those who want to budget with confidence and don’t want their repayments rising due to higher interest rates. A fixed rate home loan can be a good option for
borrowers who want to budget with certainty, first home buyers who are adapting to the routine of making regular repayments, and investors who want to ensure that their cash flow isn't affected by rising interest rates.
If you fix your rate at the bottom of the market, you can reap the benefit of a secure and competitive rate when the rest of the market bears the risk of higher interest rates.
Hypothetical case study: Phoebe locks in her rate
Phoebe and her husband have decided to purchase a property in West Pennant Hills, NSW. After speaking with a local mortgage broker, Phoebe learns that she needs to borrow $790,000 to complete the purchase.
After comparing different home loans recommended by her broker, Phoebe is torn about whether they should opt for a fixed rate or a variable rate mortgage. Phoebe knows that she and her husband anticipate to have children in the near future and as a result she is concerned about how they would manage their repayments if interest rates rose.
While she is drawn to the competitive features offered with a variable rate loan, such as a 100% offset account and the ability to make additional repayments without penalty, Phoebe believes that the certainty and security of a fixed rate loan will better suit their lifestyle.
She decides to lock in a competitive rate of 4.57% over a 5 year term.
What are the pros and cons of a fixed rate mortgage?
A range of benefits and drawbacks are associated with a fixed rate home loan which are discussed below.
Pros
- Repayment certainty. One of the benefits of opting for a fixed-rate home loan is that it offers you the peace of mind in knowing what your periodic repayments will be. This allows you to budget more effectively as repayments remain the same until the fixed rate period ends.
- Security. With a fixed-rate home loan you are protected from interest rate rises as your interest rate is locked in for the specified term.
- Flexible loan terms. Fixed-rate mortgages are available from many Australian lenders with a variety of fixed loan terms available.
Cons
- Limited features. Fixed rate loans don't have a lot of flexibility compared to variable rate mortgages. Most lenders don’t offer fixed home loans with 100% redraw facilities or 100% offset accounts, but it is possible to find some that do.
- Break costs. If you decide to break out of a fixed rate loan before the end of the specified term, you may face a significant break cost.
- Lower rates. If the RBA slashes the cash rate, you could end up with a higher rate compared to variable home loans on the market.
Learn more about the benefits and drawbacks of fixed and variable rate loans.
When is it not a good idea to opt for a fixed rate?
As interest rates are unpredictable, you generally shouldn’t take out a fixed rate loan if you are simply trying to beat the market-- this should not form the basis of your decision. A fixed interest rate may not be a good idea if you:
- Plan to increase your loan
- Intend to sell your property
- Want to make additional repayments
- Want to refinance to a variable rate loan during the fixed term
- Want competitive and flexible features such as a 100% offset account and a redraw facility
Different fixed rate scenarios
Let's look at some different situations to see if a fixed rate home loan is suitable.
I'm planning to move houses soon, does a fixed rate home loan suit me?
It's best to avoid moving out until the fixed term has finished to avoid refinancing. Refinancing during the fixed rate period and will incur break costs.
One option is to opt for a fixed rate home loan that comes with a portability option that lets you transfer your existing loan to the new property.
I'm currently stuck with a fixed rate home loan that has a high interest rate. Can I refinance?
Unfortunately, refinancing during the fixed term period will incur a range of fees. However, if your current interest rate is very high, it may be worth refinancing to a lower interest rate.
Use our switching costs calculator to help you calculate whether refinancing your loan now will end up saving or costing you money. You can also find out what happens if you break a fixed rate loan contract.
Can I negotiate a fixed interest rate?
You can definitely negotiate your interest rate before you settle your home loan. However, it's not possible to negotiate your rate during the term.
Are there any other options available?
You may want to consider applying for a split rate option as this gives you the best (and worst) of both worlds. While you have some element of stability with your budget, you can also benefit from the flexibility of a variable rate. You can read more about split loans here.
I am already in fixed plan for 3 years. 1 and a half years have passed can I change my plan or my bank?
Hi there,
thanks for the question.
Borrowers can leave a fixed rate home loan early, but doing so can come with expensive break fees. You can read more about them here.
I hope this helps,
Marc.
if buying a brand new home in Brisbane ,do I still have to pay stamp duty? and iam a first home buyer
Hi Waleed,
Thank you for contacting finder.com.au, a financial comparison website.
First home buyer schemes vary between each state and territory nationwide, please see our page on the scheme and the information for each state.
Stamp duty is also something that varies by state and territory country wide, please see our page on how to work out your stamp duty for further information.
To get the most accurate information it would be best to contact your local state revenue service.
Regards
Jodie
Just wanted to ask all the things that need to be considered when getting a home loan. The things I can think of are
Application fee
On going fees
Off set accounts
What other things are there.
Sharon
Hi Sharon,
thanks for the question, it’s great to see someone serious about home loan comparison.
I would also add to this list:
– Interest rate
– Comparison rate
– What type of interest rate you’d like e.g fixed, variable or split
– Can you make extra repayments on your loan (important if you fix in a rate)
– What level of customer service you need
We’ve written a detailed guide on all of these factors in our page here.
I hope this helps,
Marc.
I have a housing loan with Westpac bank and had to lock it in for 3 years. I have one year to go, can I break that agreement and go to a variable loan as the rates are much lower
Hi Lynda,
Thank you for getting in touch with finder.com.au.
You might be able to break from your fixed loan however there are fees involved in doing this before the fixed period is over, see more information on these here. Before making any decisions you should contact Westpac and see what these fees are charged for your particular loan.
Regards
Jodie
Currently I’m looking at fixed interest rate of 4.00% however I am wondering can banks beat it or let you have that interest rate to keep you at that bank your with?
Hi Giverny,
Thank you for your inquiry.
Each individual institution sets their own interest rates based on specific internal calculations and forecasts.You can compare different home loans by their interest rate by clicking on the ‘interest rate’ heading in our comparison tables.
In general, negotiation with banks over rates is definitely something that is possible, so when discussing loan possibilities with a lender always ask if they can offer a better rate.
Regards
Jodie
Is there a loan available to cover the difference between the price of a three bedroom house in the country and a 3 bedroom unit close to the Queen Elizabeth Hospital in or near woodville s.a.
Hi Joan,
thanks for the question.
You might want to read about and compare bridging home loans, or speak to a mortgage broker to find out more about what loans may suit your situation.
Cheers,
Marc.
Hi, We have 2 home loans and one is locked into a fixed interest rate of 8.09% until 2017. We want to change it but the breakout fee is really high. What options do we have?
Any help would be great thanks
Hi Rachel,
Thanks for your question.
Unfortunately since you have entered a binding contract, you’ll be liable to pay break costs. Please see this page for more information.
You may want to speak to a mortgage specialist about your options as they may be able to provide you with more information.
Cheers,
Shirley
Why does the 5.21% comparison rate for the Members Equity 3 year fixed rate vary so much from the 4.69% interest rate advertised? The fee structure does not differ much from the other loan providers?
Hi Damian,
Thanks for your question.
The comparison rate calculated on a loan of $150,000 for a term of 25 years repaid monthly. Please note that this comparison rate is only an indication and true only for the examples given and may not include all fees and charges.
Your personal loan terms may result in a different comparison rate.
Cheers,
Shirley
Hi There,
Great website!
I noticed that there is an advertisement for a 4.59%pa 2 year fixed rate loan with HSBC on your website yet it is not listed in your ‘Best Fixed Rate Loans’ Why is that?
I would also love to see this website allow you to list loans by maximum LVR over 90%, non-bank/bank loans, Home Loans with Offset etc.
Thanks.
Lewis
Hi Lewis,
Thanks for your comment.
For our review on the 2 year fixed HSBC home loan, please see this page. All products are subject to our disclaimer.
For loans with a LVR over 90%, please see this page.
Hope this helps,
Shirley