Document ID: chunk:federal_register_of_legislation:F2024C00882:schedule:5:p2
Version: federal_register_of_legislation:F2024C00882
Segment Type: schedule
Provision Reference: sch 5 (pt 2/6)
Character Range: 520495–523100

16A and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Additional fees may be payable if you choose to repay your fixed rate home loan early. 17

18 What happens at the end of the fixed rate period?
At the end of the fixed rate period you may be able to fix the rate at a new fixed interest rate for a further period. If a further fixed rate is not entered into, the rate will convert to the applicable variable interest rate. Under the current variable interest rate, if interest rates do not change, your monthly repayment would [increase/decrease] by around [change in repayment]. 19

At the end of the fixed rate period, the rate will convert to the applicable variable interest rate. Under the current variable interest rate, if interest rates do not change, your monthly repayment would [increase/decrease] by around [change in repayment]. 19

18 What happens if interest rates increase?
This is a variable rate loan. If your interest rate was to increase by 1% per annum, your monthly repayment would increase by around [change in repayment 2]. 19

This is a fixed rate loan. Your repayments will not change during the fixed rate period. After the fixed rate period, if the variable interest rate was to increase by 1% per annum, from the current variable interest rate of [variable interest rate], your monthly repayment would increase by around [change in repayment]. 19

How can I repay my loan faster?
This loan allows you to make additional repayments to pay off your home loan faster. If you increased your monthly repayments by $200 a month to [monthly repayment + $200] you would repay the loan in [new loan term], instead of [loan term], based on the current variable interest rate stated in this Key Facts Sheet. 19
This loan allows you to make additional repayments to pay off your loan faster but such repayments may attract a fee. You should ask your lender about the fee before making additional repayments. 19
This loan does not allow you to make additional repayments to pay off your home loan faster. 19
Altering the frequency of repayments may also help repay the loan faster.

How to find the best deal for you
To obtain the best deal for you, it is important to shop around and compare interest rates, fees and features before you apply for a home loan. Choosing the best home loan for you may save you money. For more information about how to get the best deal on your home loan visit the ASIC consumer website at www.moneysmart.gov.au.