Change your home loan

This is generally referred to as ‘switching’.

If your loan no longer fits your financial requirements and you would like to change interest rates, you can. People do this at times to take advantage of fixed rates if they see the market moving, or if there has been a change to their cash flow.

For example if interest rates are rising regularly you may consider switching all or part of your loan from a variable rate to a fixed interest rate.

You can also elect to split your home loan, which combines the elements and advantages from both a fixed rate and variable rate loan. We offer a Teachers Flexi Choice loan to be split with our 1, 2 or 3 year Teachers Fixed Option loan or 1, 2 or 3 year fixed Interest Only loan. My First Home Loan can only be split with our 3 year Fixed Option home loan. Take the time to Compare our home loans.

All Teachers Credit Union home loans have the ability to be switched to another product if it no longer suits your needs. There are fees applicable for this - please see our fees and charges.