If you have all or part of your home loan on a Fixed Interest Rate Loan, what happens when the interest rate changes at the end of the fixed rate period?  Or if you have all or part of your home loan on a Floating Interest Rate Loan, what happens when interest rates change?

If interest rates rise
If interest rates rise, your repayments would normally go up too.  However, we may be able to restructure your loan to keep your repayments the same if this is important to you.  For example, you could increase your loan term (it can be up to 30 years). 

If interest rates fall
You could either reduce your repayments, or you could keep your repayments the same.  By keeping your repayments the same when interest rates fall, you could pay off your loan faster.

You can contact us when interest rates change.  We’ll help you understand your options and decide what’s best for you.

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