A rate lock is an extra option for a fixed-rate Flexible Home Loan, which lets you hedge against rates rising before your house purchase is settled.

When you take out a fixed-rate Flexible Home Loan, you normally get the interest rate that applies on the day your home loan is settled – which could be different to the rate on the day you first applied.

To guard against any unwanted rate rises, you can add a rate lock option to your home loan for $500. Then when it comes time to settle your home loan, you’ll get either the original interest rate at the time you applied, or the rate at settlement – whichever is lower.

Applying for a rate lock

If you’re looking to apply for a rate lock, just download and fill out the rate lock request form.

Download form

Make sure you read through the details of the rate lock agreement included with the form, then send it back to us (along with any extra documentation the form asks for) by email, fax or post.


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