Your mortgage refix checklist before the fixed rate ends

A fixed-rate expiry is a useful time to review your loan against today's household plans. Start before the deadline so the decision does not become a rushed click on the first offer you see.

Write down the loan you have

List every loan portion, outstanding balance, expiry date, current repayment and remaining term. If there are several portions, check whether they expire together. Ask your lender what happens if you make no selection; rollover processes are not identical across banks.

Rebuild the household payment budget

Use current income and expenses rather than the figures from your original application. Test the proposed repayment alongside a less comfortable scenario. Include upcoming parental leave, a job change or planned maintenance. If payments may become difficult, contact the lender early instead of waiting for a missed payment.

Compare flexibility as well as the quoted rate

Ask about extra-payment allowances, lump sums, rate-reservation conditions and the implications of selling within the proposed fixed period. A short period means an earlier review, not a guaranteed cheaper next rate. A longer period provides certainty but may constrain changes.

Decide what kind of review you need

• Refixing changes the rate arrangement on an existing loan.
• A broader restructure may change portions or repayments.
• Refinancing involves a new loan arrangement and can involve different costs and approval requirements.

Request the final terms in writing and check the effective date and repayment amount. Our interest rate refix service can help you organise the options without relying on a forecast being right.