Although the Reserve Bank of Australia has given clear indications that the next move in interest rates will be up, there are a number of attractive fixed loan deals still available looking for security.

A comparison conducted by www.yourmortgage.com.au showed the top three cheapest fixed rate loans (1year) are offered by Rate Busters, Pacific Mortgage Group and Reduce Home Loans. All the products carry ultra low rate of 3.49% - that's at least 2% lower compared to the bank offering.

Rate Busters Fight Back 1 year fixed loan has no application, no annual fee and no ongoing fees. It also allows up to $10,000 extra repayment each year.  Pacific Mortgage Group's 1 year fixed rate loan carries a start up cost of $220 but has no ongoing fees and settlement fees. Reduce Home Loans has no application fee, no valuation fee and no ongoing fees.

 

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan