What is Fixed Rate Mortgage breakage costs?


If a Fixed Rate mortgage loan is fully or partially repaid early or you change to a different interest rate during the fixed rate term, an early breakage cost may be applicable.

The circumstances where Breakage Costs may arise are:

  • Paying a lump sum to a fixed rate mortgage
  • Requesting to change the term of a fixed rate mortgage
  • Requesting to increase loan repayments on fixed term
  • Requesting to change from a fixed rate to either a new Fixed Rate or a Variable (LTV) Rate
  • Paying your fixed rate mortgage loan off early

You will not have the flexibility to Break out of the Fixed Rate without potentially incurring a breakage cost. For further information please click Home Mortgage Regulatory Information

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