A split or combined loan is a facility that allows a client to take the benefits of one or more types of loans. For example, they may want to hedge their bets with interest rates, so may want to borrow a portion of the loan under a fixed interest rate and a portion of the loan under a variable rate. This means that if interest rates rise, then portion of the loan that is fixed will remain the same for the duration of the fixed period, however if the rates go down, then only the variable portion of the loan will go down with it.

A client can also split between loan products. Chapter 3 will discuss the different types of loan products a borrower can choose from and what they may consider using them for. Most lenders will let you split between most products.