If I select to lock in a rate for my new fixed rate package application, how long is the rate guaranteed for?

Multiple loans can be incorporated under one $395 annual fee.

Our Home Loan Package offers variable, line of credit and fixed rate products.

At the end of the fixed period, the loan will revert to the variable rate package unless we agree otherwise, but you can talk to us if you’d like to re-fix your rate or review our other home loan options. If your loan reverts to the variable rate page, the interest rate applicable will be determined by your total loan balance at that time.

You can make additional repayments, but if you repay your loan in full early then a Break Cost Fee may apply. Splitting your loan with a variable rate product can allow you to make unlimited extra repayments on the variable portion without incurring any Break Costs whilst still having the security of having a fixed interest rate on a portion of your loan.

This rate will be held for the 90 day ‘Approved Period’ from the date that the completed rate lock form is received by People’s Choice. This 90 day rate guarantee does not extend beyond the expiration date of the conditional loan approval.