• The place to find the right expertise and make better decisions
  • Find the right expertise
Jason M.
Jason M.
Kogarah Bay, NSW

We are looking at a new loan for renovating and know if it’s possible to fix the rate while the renovations are being done. If not, would a lender agree on locking in a 2 or 3 year fixed rate now so when the renovations are complete our loan is fixed at todays rates - the renovation will finish around March next year

last year


Hi Jason,

I do have a couple lenders who have a great fixed rate product, which can help achieve what you are looking at doing. These lenders offer fixed rates, that are flexible and you can even make additional repayments with no restrictions.

Any other lender you would most likely fix the refinance portion now and leave the remaining at variable and fix when finished renovating. Rate will be what ever the applicable fixed rate will be when renos are completed.

Please let me know if you'd like more information on the first option I have mentioned.

Kind Regards,

Umit Talarico
0425 354 821


Hi Jason,

Great thinking here! It’s awesome to be able to plan ahead and get the funds you need now at great fixed rates PLUS have the availability to draw on the funds as you require.

There are lenders who do fixed rates with an offset account that “could” work for you but it really depends on the $ you require for the renovation.

Also, another thing to really nut out is what type of renovation you are considering? Is it going to be cost plus or will it be under a fixed price building contract the whole way through?

Understanding these questions will assist any lender or broker present you woth products that will tick your boxes.

Perhaps your question has provided you with more questions, which is a great thing, but also identified that this is a definite possibility.

Considering there are some fixed rates that still start with a 3 despite the upward trend NOW is a time to continue asking these questions and putting your plan into action.

Of course, would love the opportunity to talk through a few of these options so you can make an informed decision about what’s right for you.


Craig Nicholas

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>