When are fixed rate break costs payable?

Fixed rate break costs may be payable if, for example, during the fixed rate period, your customer:

  • makes extra repayments above the annual additional payment threshold
  • repays their account balance in full
  • changes to a variable interest rate or a new fixed interest rate
  • changes their repayment type (e.g. moves to interest only repayments)
  • changes their loan purpose (e.g. moves from an owner occupied purpose to investment)
  • borrows more money on an existing fixed rate home loan account
  • discharges their home loan.

How can I get an estimate of fixed rate break costs?

The break cost could be substantial. If you'd like to obtain an estimate of break costs on behalf of your customer, contact our team using live chat in Broker Portal.

How can my customer break their fixed rate?

If your customer would like to break their fixed rate loan, our Personal Help Centre article Breaking your fixed rate home loan has more information to guide them through this process.

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Unless stated otherwise, this information is provided by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Finance is subject to our credit approval criteria. Terms and conditions apply and may change without notice.

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