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0411 229 602


Welcome to the Perth Mortgage Broker Group Website. We are available 7 days a
week on 0411 229 602

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First Home Buyers

We can help with your first home, from finding a suitable home loan, and applying
for the first home buyers grant.

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Investment Home Loans

With a wide variety of investment home loans we can give many options if you are
thinking about purchasing or refinancing an investment property.
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We have a range of home loan
options, including low deposit and
no deposit ( with a guarantor) home loans.


If you are thinking of building a new
home we have many construction
home loan options available.


Our obligation free online
home loan health check may
help you save money!

What Is Rate Lock With A Fixed Rate Home Loan?


When looking at different home loan options, there are many options to choose from such as a variable rate home loan, a fixed rate home loan, a basic variable home loan, and more.

If you are thinking about choosing a fixed rate home loan, where your interest rate is fixed at a set rate for a period of time, normally between 1 to 5 years, there is an option called rate lock.

Rate lock is a feature, which with most banks has a fee, which guarantees the fixed rate you apply for, is the fixed rate on the settlement of your new home loan. Most banks do charge a fee, and the fee varies between the banks, generally from 0.1% of the fixed rate loan amount (For example if your fixed rate home loan was $100,000, the rate lock fee would be $100), to a flat fee of $750.

The period of time from completing a home loan application, to the settlement may vary, depending on what you are doing, and how busy the banks are. If you are buying a property, the average settlement times is around 7 weeks, if you are refinancing your home loan, the average time might be around 5 to 6 weeks.

During the home loan application process, if fixed interest rates increase, your fixed rate home loan will the higher interest rate on settlement of your home loan. If fixed interest rates decrease, then your fixed rate home loan would be the lower interest rate.

If you choose to ‘Rate Lock’ your fixed rate home loan, the fixed interest rate you apply for will be the same fixed rate on settlement. It is a guarantee you wont pay a higher fixed interest rate, if fixed interest rates increase.

Rate lock is an option, and you don’t have to take it, but it is worth discussing with your mortgage broker, if you are thinking about a fixed rate home loan. You can understand the fee for the rate lock with your chosen bank or lender and make an informed decision whether you would like to take the rate lock option or not.

If you have any questions at all, please contact Perth Mortgage Broker Group, or call Troy on 0411 229 602, 7 days a week

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We do not charge any brokerage fees on all of our residential home loans. Our service is complimentary to you.
Compare Home Loans

Compare Home Loans

You could save money, by using our online home loan comparison form and comparing your mortgage.


As part of our service, we are offering free Perth property reports on as many properties as you like.
Perth Mortgage Broker Group
We are open 7 days a week.
Please contact us anytime.
0411 229 602