Top 10 fixed rate mortgages*

Rates and Fees verified correct on May 1st, 2017

Little known ways to find a great fixed rate mortgage.


Fixed rate home loans provide certainty in what can be a fast changing home loan market. The benefits are simple: you’ll enjoy an interest rate which doesn’t change for a number of years, and because of this your repayments won’t change either. This allows you to create an accurate budget, and not worry about your home loan changing during your fixed term.

If you’re already sold on the idea, there’s still the challenge of finding the right fixed rate mortgage for you.

Finding the top fixed rate mortgage is difficult as everyone is different. We’ve included 10 fixed rate home loans which we feel are good choices to add to anyone’s comparison, but you should compare and find out what fixed rate home loans might suit you.

Fixed rate mortgage comparison

Here are 10 fixed rate home loans you might want to consider adding to your comparison.

Rates last updated May 1st, 2017
Loan purpose
Offset account
Loan type
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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
HSBC Premier Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier)
Ability to make up to $10,000 in additional repayments each year, available to self employed borrowers, and interest only options available.
3.95% 4.83% $600 $35 monthly ($420 p.a.) 90% More info
Illawarra Home Loans First Home Fast Track Home Loan - 3 Year Fixed
No application, settlement or service fees, the ability to make up to $20,000 in extra repayments per year and a max insured LVR of .
4.13% 4.43% $0 $0 p.a. 95% More info
IMB Fixed Rate Home Loan - 1 Year Fixed (LVR < 90% Owner Occupier)
The ability to make up to 12 months worth of extra repayments without penalties and free internet redraws.
4.29% 4.93% $445 $6 monthly ($72 p.a.) 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Standard Rate, P&I)
Enjoy no establishment fees as well as the option to make up to $25,000 per year in additional repayments and enjoy interest only options.
4.59% 5.00% $0 $0 p.a. 95% Go to site More info

What is a top fixed rate mortgage?

Simply put, this is a fixed home loan which excels in one or many areas. It might have a competitive rate, allow a large amount of extra repayments to be made every year, have low fees, or offer a 100% offset - or combine these benefits.

Because everyone is different, what you consider to be the top fixed rate home loan will depend on a range of factors, including:

  • How much you plan to put towards your loan - if you won’t be putting any extra funds towards your loan there’s no point looking for a loan which allows a large amount of additional repayments to be made each year.
  • How long you plan to keep your property for - If you plan to move in three years there’s no use getting a four year fixed rate mortgage.
  • What features you use - If you enjoy using a 100% offset account it stands to reason that the top fixed rate home loan for you will include this feature.
  • What are your fees now - If you have a home loan with low fees already, you’ll want to try to find another home loan with low fees. A home loan with high fees might not be too bad if you net savings off of the features and rates it has.

How to compare top fixed rate mortgages

There are three main areas where you’ll want to focus when comparing fixed rate home loans. These include:

  • The interest rate. Compare not just the advertised rate, but also the comparison rate, which takes into account more fees than the regular rate does. Use our RBA cash rate page to get an idea of where rates are heading in the short term, and speak to a mortgage broker or financial planner to get a better idea of where they might be heading over the course of the fixed term you’re interested in.
  • Fees. Fees should always be present in your comparison. Compare the upfront fees, as well as any fees for ongoing features. A home loan with higher fees might shouldn’t necessarily be omitted from your comparison if it provides the right mix of rates, feature and access.
  • Features. As mentioned above, make a list of the features you’d like in your home loan, and then search for these when carrying out a comparison. Fixed rate home loans aren’t as flexible as variable home loans in the features department, but some can come with 100% offset accounts and the ability to make additional repayments up to $30,000 a year and access to redraw facilities. If you don’t want to miss out on the advertised rate in the time it takes for your lender to approve your home loan you might be interested in a rate lock, which locks in the advertised rate usually for 60 days.

Finding a great fixed rate home loan is different for everyone. By comparing the different fees, features and rates offered on the loans above, you might be able to find a loan which suits you, your income and your lifestyle.

If comparing these loans is too confusing or time consuming, you can always get into contact with an experienced mortgage broker. They can help by sorting through relevant loans and helping you to select the best one.

Marc Terrano

A passionate publisher who loves to tell a story. Learning and teaching personal finance is his main lot at Talk to him to find out more about home loans.

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