We’re proud to announce that P&N Bank has been named winner of the Split Home Loan category in the 2021 Mozo Experts Choice Award for our & Basic Home Loan and Fixed Rate Home Loan.
The Mozo Experts Choice Awards recognise the top 10% of the market that deliver unmistakable and exceptional value to consumers Australia-wide.
What is a split home loan?
A split home loan lets you divide your debt into multiple loans e.g. a fixed rate loan and a variable rate loan. Split home loans have become more popular over the past 12 months with fixed rates at the lowest they have been in decades.
What are the benefits of a split home loan?
You may be able to reduce the impact of interest rate fluctuations, while retaining the features and benefits you want, by choosing to split your home loan.
For example, a fixed rate loan gives you the confidence of knowing how much your repayments will be and protects you against rate rises. In comparison, a standard variable rate loan allows you to make extra repayments and gives you the flexibility to redraw them at any time, providing you meet the relevant requirements to do so.
Find out more about our home loans on our website.