Aspect Learning Guide
Rate lock
A rate lock may secure a fixed rate before settlement. Fees, timing and rules vary between lenders.
Rate lock explained in plain English
A rate lock may secure a fixed rate before settlement. Fees, timing and rules vary between lenders.
Why it exists
It can protect you from a fixed rate increase before settlement.
Cost
There may be a fee or specific lender conditions.
Timing
Expiry periods and rules vary by lender.
General information only: This guide does not take into account your personal objectives, financial situation or needs. Lending policy varies between lenders.