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The fixed-versus-variable debate is really a question about you: can you sleep through rate rises, or do you want the flexibility to overpay and redraw? Rather than guessing, feed both rates into this calculator and see the actual monthly and lifetime difference on your loan size. The cheaper option on paper is not always the cheaper option for your life — the numbers here let you decide with your eyes open.
rate scenario comparison
Fixing buys certainty, not necessarily savings. Compare the fixed rate against where variable rates are expected to go — and remember you pay for that certainty if rates fall.
Usually only up to a cap (often 5-20% of the loan per year) before break-fee penalties kick in. Variable loans rarely have caps.
You roll onto the lender's standard variable rate unless you re-fix or switch — set a calendar reminder 2-3 months before the term ends.
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