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.
