A loan that is divided between multiple products/types. A common split is to have one part fixed rate, the other variable. The reason for having a split may be to get partial benefits of each product. For example, an offset account may only be available on a variable rate product, but the customer also wants to fix a portion of their repayments to have greater stability.
Some lenders limit the number of splits available.
This information in this article is general only and does not take into account your individual circumstances. It should not be relied upon to make any financial decisions. uno can’t make a recommendation until we complete an assessment of your requirements and objectives and your financial position. Interest rates, and other product information included in this article, are subject to change at any time at the complete discretion of each lender.