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Fix or float your mortgage in 2025? Here’s what to consider.
Thinking about whether to fix your mortgage or go floating in 2025? It’s a big decision—and the right answer really depends on your personal situation.
In this month’s blog, alongside my usual updates, I’ve added my two cents on using AI ‘Robo Advice’ and Gen AI for financial advice—something we’re hearing more about in financial circles lately. Robo Advice has been around for a while, and while Gen AI is an interesting development, the real takeaway remains the same: no matter how many Robo or AI tools are out there, nothing beats custom advice that’s tailored to your own personal situation and can adapt with you.
I get asked this a lot: “Does your advice change depending on who you're working with?”
On one level, the answer is no—interest rates are the same for everyone. So there are some general wealth principles that can always be applied.
But on another level, it’s a definite yes—because people’s situations, goals, and comfort levels are all different, and so the strategy needs to reflect that too.
This is why it is super important to get personalised advice, rather than just relying on ChatGPT!
There’s talk of rates easing down later this year, but let’s be honest—there’s a lot of global uncertainty. Tariffs, wars, oil prices, inflation, or a sluggish economy could all throw predictions off. So, take any forecast with a grain of salt.
Ok, so those are the rates. Everyone has the same basic choices:
But here’s the thing: What you do with your surplus income matters more than how long you fix your loan for.
And here is something else even more important than that - not everyone is in the same boat when it comes to mortgages, and one size financial advice does not fit all.
So it pays to get personalised advice for your mortgage strategy.
Not everyone is in the same boat when it comes to mortgages, and one size financial advice does not fit all.
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So on that note, here are some things I would discuss with my different clients in different situations, that may matter even more than where interest rates are sitting at.
For these clients, I might recommend: to:
Tips I would suggest would include:
Usually need to:
Yes and no.
The rates are the same, but the strategy depends on you—your goals, your risk tolerance, and your financial situation.
Getting your mortgage strategy and repayment plan right could make a big difference to how comfortable you are now financially and the term of your loan.
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There is a lot of talk in the town of people seeking financial advice from ChatGPT or other types of Gen AI. Gen AI can be really helpful when you’re trying to understand how mortgages work — things like interest rates, fixed vs floating, or what banks look for when you apply. It’s brilliant for breaking down the basics.
But remember, everyone’s situation is different. Some people are buying their first home, others are investing. Some have stable income, others are self-employed. Some want to pay off fast, others want lower repayments. So, one-size-fits-all advice doesn’t really work when it comes to mortgages, or any financial strategy for that matter.
So be careful about just blindly following advice from ChatGPT - or any AI. It doesn’t know your full story — your budget, your long-term plans, or what stage you’re at and what risk factors you have. It can't predict the future. It’s great for learning and getting ideas, but when it comes to making real decisions about a mortgage, it’s better to talk to professionals who understand your situation properly — like your financial adviser and professional team (lawyers, accountants etc.)
Professional advice might come with a price tag—but as any good builder, lawyer, accountant, electrician, or doctor will tell you, it’s worth getting it right the first time. Why? Because they’re often the ones called in to fix the fallout when shortcuts don’t go to plan!
That's all for this month, next update in July.
Brendon.
Brendon Ojala (FSP119244) is a Financial Adviser with Velocity Financial (FSP95466). No investment decision should be taken based on the information in this blog alone. Please see our disclosure statement on our website.
About Brendon:
Hi, I'm Brendon, one of the owners and advisers at Velocity Financial. I have been giving advice on mortgages and insurances at Velocity for around 15 years, and it is great to be able to work with people to achieve their financial goals. Prior to giving money advice, I worked as a youth worker and managed teams for a not-for-profit organisation. I live with my wife and one of my sons (the other one only stays when he needs food) in Berhampore, and if I'm not talking revolving credit accounts, I can be found running the trails of Wellington.
Always get professional advice
The information shared in this post is meant to be general guide to support you on your journey. When making important decisions about your finances, we encourage you to seek independent financial advice first, tailored to your unique situation. As well as talking with a financial adviser, make sure you talk to your lawyer and accountant too – together they'll help you find the best solution for your specific situation. Our knowledgeable financial advisers are here to help. Check out our website for the details about our financial advisory services in our disclosures: