Tips for beating home loan interest rate increases

• Budget for repayments at least two percent higher than you are actually paying.
• Opt for a basic loan with fewer features but a lower rate.
• Pay extra on your variable loan from the start.
• If your budget won't cope with many rate rises, now might be a good time to consider a capped rate home loan. If you can't choose between a fixed and a variable rate mortgage, consider splitting your loan with half at the variable rate and half at a fixed rate.

When you are ready to apply for a mortgage or a refinance package, the Home Loan Club will help you find the right Broker for you.

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