Thanks for your help. I hadn't thought about splitting my loan – I'll give that some thought too.

My husband and I are wanting to have kids soon, which means we'd be relying on a single income for a while – which would make it really tight if the repayments increased. It is for a new home that we are building and we plan on living there for 5-10 years, so I guess what I'm concerned about is if the interest rates continue to decline to really low levels and  ours will be fixed at a really low rate.

I have very little understanding of home loans and interest rates. The bank we are considering offers a home loan with an interest rate of 5.21% – will that rate be the same for both a fixed interest and variable, or do they fix a fixed interest at a higher rate than what they advertise their variable rates to be at the moment? (generally speaking)