Fixed rate loan is simply a loan with a fixed Interest Rate and Term of the Fixed rate. After the Term has lapsed the rate will usually revert to the standard variable rate for that bank, at this time you will need to choose a competitive product to transfer to.

Fixed Rate loans won’t suit all borrowers. There are Restrictions on making extra repayments and there can be early payout fees attached. Appropriatte Loan structuring can provide an all-round solution.

Most Fixed rate loans prevent you paying off your loan as quick as you might like, but there are flexible fixed loans around.