• Would Your Bank Tell You About Competitor Rates?

    If you walked into your current lender, chances are they would provide you with product information that will benefit them, not you.

    Contact the team at Coastline Mortgage Services to see what else is out there.

  • Call (08) 9524 7888

    At Coastline Mortgage Services our consultants have had extensive experience within the financial industry.

    After spending considerable time in the banking sector we noticed that the industry needed a company with a personal touch.

    We specialise in finance lending for home, business and commercial purchases.

  • Award Winners

    Coastline Mortgage Services proudly accepted the following awards at the 2012 Vow Financial Conference:

    Vow Financial Broker Partner of the Year - National Diversification Champion 2011/2012

    Westpac Broker Partner of the Year Individual Volume in 07/08

Three Year Fixed Interest Rate Home Loans

Fixed interest rate home loans offers you a fixed interest rate so you have a fixed repayment amount over a set term, usually between 6 months and 10 years. The most commonly used fixed interest rate term in Australia is3 years.

A fixed interest rate home loan is set by your lender; they borrow money from the wholesale money markets and then sells' this on to you. The cost to the lender of borrowing this money is determined by what the money markets believe interest rates will do over a set term. Your lender will then add a margin to this, the final interest rate is then offered to you for the fixed term you are applying for.

Fixed interest rate home loans Pros

  • You will know how much your loan repayments will be for a fixed period, regardless of market interest rate changes
  • Protects you against interest rate rises
  • You can pick the time period to suit you; fixed terms are available from 6 months to 10 years

Fixed interest rate home loans Cons

  • May be less flexible than a variable home loan rate, limiting additional repayment options and excluding the option to redraw
  • If your circumstances change and you want and/or need to exit the loan early, early exit fees will apply
  • Over the term of your loan you may end up paying more than if you had selected a variable home loan, even in a rising interest rate market
    Call Jerry now on 08 9524 7888