Fixed rate loans offer a great deal of security.  If interest rates are to increase your rate and repayments are not affected and will stay the same for the duration of your fixed period.  So what premium do we have to pay for this added security?  None!

Fixed rates have often been thought of being more expensive than their variable rate counterparts.  Not only more expensive but less flexible.  Today with a select few lenders this couldn't be further from the truth.  Fixed rate loans used to attract hefty fees and charges and were very restrictive.  While they were secure they didn't offer the flexibility that customers were after.  Recently lenders such as The Rock Building Society and Heritage have released a range of fixed rate loans that are set to take the industry by storm.

The Rock's fixed rate loan is more flexible than most variable rate loans.  You can make as many extra repayments as you like and if need be you can use the redraw facility to access spare funds.  To top things off included is an offset account which allows you to store your savings and reduce the principle balance that interest is calculated on.  This gives you all the benefits of a flexible variable rate loan with the security of a fixed rate.  With flexibility like this what is the point in choosing a variable rate loan?

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