See your estimated repayments per week/fortnight/month
Interest rates from
6.04%
p.a.
Comp. rates from^
6.08%
p.a.
Variable Bare Home Loan 90% LVR
Borrow up to $2m with competitive variable rates from 6.04% p.a. (comparison rate^ 6.08% p.a.). Enjoy flexible payment options, zero monthly or ongoing fees, unlimited free redraws and up to 30 year terms. 90% Max LVR applies. Visit site for T&Cs and to check eligibility.
Here are the details you’ll need to enter about your home loan.
The total loan amount you’re borrowing from the bank, including both the fixed and variable portions.
The loan amounts of the fixed and variable portions. For example, $250,000 fixed and $300,000 variable.
The interest rates charged on the fixed and variable portions of the loan (e.g. 6.00% fixed and 6.49% variable).
Whether you’re making principal and interest or interest-only repayments. Most home loans have principal and interest repayments where you pay off the amount borrowed and the interest charged from the start.
The amount of years you’ll be paying off each portion of the total loan. Most new mortgages come with a 30-year loan term, with fixed rate durations generally ranging from 1-5 years.
After you’ve entered in these details, our calculator will give you an estimate of your split home loan repayments. You can choose to see weekly, fortnightly or monthly repayments.
Splitting your home loan into fixed and variable parts is a way to hedge your bets. With this approach, you get the benefits of both types of loans. If interest rates rise, your fixed portion insulates you from higher repayments. However, if interest rates fall, you won’t feel the full benefit if you split.
Most lenders allow you to choose how you split your loan. You can divide it equally based on your loan amount, or split it into percentages like 60/40 or 70/30, depending on what works best for you.
A split home loan can offer a balanced approach to managing your mortgage. But, whether it’s the right choice for you depends on your financial situation, risk tolerance and goals. Speak to a mortgage broker to see if a split loan aligns with your needs.
This table estimates how much you’ll pay on a split home loan of $400,000.
Interest rate | |
Fixed loan portion* | 6.00% |
Variable loan portion | 6.49% |
Fixed term | |
Fixed loan portion* | 2 years |
Variable loan portion | N/A |
Estimated monthly repayments | |
Fixed loan portion* | $2,398 |
Variable loan portion | $2,526 |
| Fixed loan portion* | Variable loan portion | |
|---|---|---|
Interest rate | 6.00% | 6.49% |
Fixed term | 2 years | N/A |
Estimated monthly repayments | $2,398 | $2,526 |
 | Virgin Money Lite Home Loan VariableInterest rate 5.84% per annum (variable) Comparison rate 5.86% per annum Redraw Split Loan Max LVR 80% | Compare now on Money.com.au or visit site |
 | Greater Bank Great Rate Home LoanInterest rate 5.94% per annum (variable) Comparison rate 5.95% per annum Redraw Split Loan Cashback Max LVR 80% | Compare now on Money.com.au or visit site |
 | Bank Australia Clean Energy Home Loan RenovateInterest rate 5.98% per annum (variable) Comparison rate 6.25% per annum Redraw Offset Split Loan Max LVR 90% | Compare now on Money.com.au or visit site |
| Bank Australia Clean Energy Home Loan RenovateInterest rate 5.98% per annum (variable) Comparison rate 6.25% per annum Redraw Offset Split Loan Max LVR 90% | Compare now on Money.com.au or visit site |
 | Newcastle Permanent Building Society Real Deal Home Loan SpecialInterest rate 5.99% per annum (variable) Comparison rate 6.03% per annum Redraw Split Loan Max LVR 80% | Compare now on Money.com.au or visit site |
You can usually fix your rates for one to five years on the fixed part of a split loan, depending on your lender. If you expect rates to rise and want more stability, choosing a longer fixed term might be best. But, if you think rates could drop soon, a shorter fixed term might be best.
Most borrowers in Australia choose to lock in their rates for three years or less, according to the RBA.
After the fixed-rate period ends, the fixed part of your loan usually switches to the same variable rate as the other part of your loan. This means that the part of your loan that was fixed at a set interest rate will now move to a rate that can fluctuate with market conditions.
At this point, you can renegotiate your loan: split it again, switch to a fully variable rate, go all fixed, either with your current lender or a new one.
It depends on the lender’s terms, but most lenders won’t allow you to make at least some extra repayments on the fixed portion of your home loan. You’re normally free to make unlimited extra repayments on the variable portion.
Some lenders charge establishment or ongoing fees for split loans, so it’s important to check the fine print with your lender. In some cases, you might end up paying double the fees because you’re effectively applying for two separate loans. Many Australians use mortgage brokers who can help with identifying the fees and charges associated with a split home loan.
A split home loan might be suitable for borrowers who prefer the security of fixed rates for part of their loan, while also taking advantage of the features typically on offer with a variable rate loan. This type of mortgage may work best for people who want to manage risk but also benefit from falling interest rates.
Home loan comparison rates are calculated based on a loan amount of $150,000 repaid over a 25-year term with monthly repayments. The comparison rates only apply to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Check with the provider for full loan details, including rates, fees, eligibility and terms and conditions to make sure the product is right for you.
General information only The information on this page is general in nature and has been prepared without considering your objectives, financial situation or needs. You should consider whether the information provided and the nature of any home loan product is suitable for you and seek independent financial advice if necessary.
We are not providing you with a recommendation or suggestion about a particular home loan. You should read the relevant disclosure statements or other offer documents before deciding whether to apply for or continue to use a particular product.
What products, features and information are shown While we make every effort to ensure all home loans available in Australia are shown in our comparison tables, we do not guarantee that all products are included.
Our product comparisons may not compare all home loan features and attributes relevant to you.
Product information, such as interest rates, fees and charges, is subject to change without notice. Before acting on any information, you should confirm the relevant product information with the lender.
How home loans are sorted and filtered by default When results load initially in the main comparison table on this page, we show relevant loans from our sponsored partners first, then all loans on our database starting with the lowest relevant rate available from each of Australia's top 10 largest lenders first (top 10 is according to APRA, based on total value of loans per lender). We know these are the rates our customers are most interested in seeing. After these initial results, we show all products on our database, sorted as follows:
Some home loan products listed in our tables are available through a mortgage broker. Mortgage brokers may not be able to offer loans from every provider and there may be more suitable loans for your personal circumstances.
Mortgage brokers are not authorised by Money Pty Ltd's Australian Credit Licence and operate under their own Australian Credit Licence, or as a credit representative of another Australian Credit Licensee. Mortgage brokers can make recommendations about home loan products that may suit your objectives, financial situation and needs.
Our tables feature all home loans available from lenders on our database that match the search criteria selected. Lenders do not pay to feature in our tables. Partner lenders with loans marked as ‘sponsored’ may pay a commission to Money.com.au if you click to visit their website.
If you get help from a mortgage broker as a result of visiting this page, we may earn a commission.
