Legal professionals are often looking for the rainclouds beyond the rainbows for their clients. Getting the balance of a home loan right is one instance where they need to do the same for themselves, writes Cullen Haynes.
With inflation trending higher in recent months and interest-rate volatility anticipated ahead, now may be the right time for legal professionals to lock in a competitive fixed mortgage rate. This can help deliver significant savings, protect cash flow, and provide certainty through 2026 and beyond.
The cash rate sits at 3.60 per cent as of November 2025, and inflation is running at about 3.8 per cent (up from 3.6 per cent in September). Some major lenders have already increased their fixed rate home loans. Westpac recently lifted rates by up to 0.35 per cent, with its lowest two-year fixed rate now starting at 5.24 per cent. BOQ increased its fixed rates by 0.40 per cent last week.
Two-year fixed rates remain the sharpest priced in the market, at the time this article was published, the sharpest rate in the market is 4.89 per cent.
However, the window for securing these lower two-year rates is closing quickly.
The market has now shifted its bets towards one to two cash rate rises next year. Lenders are adjusting their pricing to manage risk, which means current fixed rates may not last long. Acting quickly can protect borrowers from these potential increases.
Many of our clients have variable income streams, irregular cash flow, or upcoming family commitments, whether marriage, children, private school fees, or the rising cost of living. Fixing a loan provides payment stability, making budgeting and long-term planning easier.
Some lenders offer rate-lock options so borrowers can secure a fixed rate at lodgement, even while their applications are being processed. Fees are typically $600 to $750 as a flat fee, or around 0.15 per cent of the loan amount.
For those who want flexibility as well as certainty, split loans, where part of the loan is fixed and part remains variable, can be a practical solution, giving you both security and flexibility.
Legal professionals are often looking for the rainclouds beyond the rainbows for their clients. This is one instance where they need to do the same for themselves.
Cullen Haynes is the director of sales at Legal Home Loans.
