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10 Year Fixed Rate Home Loans
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Why Consider a 10 Year Fixed Rate Home Loan?
A 10-year mortgage is a home loan that allows you to set the repayments for ten years. This is one of the lengthiest terms for fixed rates in Australia, and it benefits select clients who are ready to have a constant loan rate for a decade.
There are several reasons to opt for a 10-year fixed mortgage. First, fixing your loan for a decade provides you with unshakable security. You are sure that no major economic events can change the interest rate on your repayments. Recessions and inflations have affected the housing market in the past few years. Having a fixed loan insulates you from these fluctuations. The RBA has delivered consecutive interest rate hikes recently and is expected to continue doing so with increases.
Second, a long-term mortgage can make you a lower-risk borrower because you have a good record of repayments for that long period. Banks may increase the amount you can borrow.
Third, a 10 year fixed rate home loan could save you money – that is, if you have accurate projections and calculations based on the housing market as well as your income and financial standing.
Intellichoice helps you navigate mortgage options. We calculate the actual cost of a loan by considering the fixed interest rates, specific fees, and other expenses related to a fixed rate loan (e.g., early repayment charges, redraw fees, etc.) Our financial analysts work closely with clients to find the most advantageous loan products in the market.
Want to explore 10-Year Fixed Rate Home Loan Rates?
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Who Should Take Advantage of a 10 Year Fixed Rate Home Loan?
If you are considering a 10 year fixed rate mortgage, you may belong to any of these types of borrowers:
Professional investors. These clients have long-term property plans and prefer stable investments over highly variable and changing rates. They will enjoy consistent payments and are free to focus on new investments.
Conservative owners. Homeowners who prefer a consistent interest rate over a ten-year decade will be protected from possible economic recessions and meltdowns.
Steady income investors. Real estate investors can risk losing large property portfolios if the RBA increases rates. If you have a predictable income source, there’s nothing better than having a 10 year fixed rate home loan free from market hikes.
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Why Choose Intellichoice?
A 10 year fixed rate home loan is a considerable commitment. You need a smart and dedicated financial expert team to help you decide which options are suited for you. Intellichoice is your certified and trusted brokerage that will complete the application and approval process. We’re here to help with pre-approval and give you a clear picture of the maximum loan for your long-term loan.
- Get the best rates. We compare the total cost of the mortgage over the complete fixed term and help you calculate which product will be the most reasonable overall.
- Simplify the process. We sort out the comparison and the entire application and have a virtual consultation mode—no excessive paperwork to inconvenience clients.
- Work with a responsive team. Our experts will always negotiate in your best interest. We keep a close eye on market rates and give advice about relocking the rate after the 3 years or accepting the Bank Standard Variable rate (BSV).
Let us facilitate your convenient mortgage application