Should I fix my loan or keep it variable?

A question that is asked often when it comes to the type of home loan to consider.

This depends on a few factors - one could look at the market and watch the trend - one could forecast where rates are headed etc. 

The most important thing to remember though, it's about YOUR lifestyle and how it suits YOU. Both options have their advantages and setbacks. Once you factor in your personal lifestyle and how you can afford to pay it and what features will benefit - an easier decision can be made. 

Features of a typical variable loan:

Extra repayments allowed - loan be paid off faster
Can access/withdraw extra repayments if needed (redraw)
Rates will move up and down with the market/cash rate
Can be used to pay bills (Bpay etc) - like a line of credit

Features of a typical fixed loan:

Peace of mind and security knowing that rates won't change for the fixed period
Limited extra repayments allowed per fixed year 

If you need a hand or suggestion, I'm more than happy to help with your enquiry!