MORTGAGE TYPES
The key benefit however, is flexibility – you can make extra repayments, lump sum payments, or repay the loan in full at any time without penalty.
Floating loans are often used strategically as part of a wider loan structure, particularly where a lump sum is expected (such as a bonus, sale proceeds, or an inheritance).
Structuring a portion of the loan this way allows it to be repaid in full when those funds arrive, without any breakcosts.
They can also be useful for short-term needs, such as renovations or managing cashflow, before transititoning to a fixed rate once things are more settled.
Make extra repayments or pay off your loan in full at any time without penalty.
Redraw funds you've already paid above the minimum, giving you access when you need it.
Your rate moves with the market, so you can benefit when rates drop.
Your interest rate can move up or down at any time, meaning your repayments may change.
A floating mortgage is best suited for borrowers who value flexibility and the ability to make lump sum repayments.
At Caldwell Mortgage Advisers, we:
We review your financial situation to determine if a floating rate suits your goals.
We compare floating rate offers across multiple lenders to find the best deal.
We continue to monitor your loan and advise when changes could benefit you.
Ready to explore a floating mortgage? Get started today.
