Fixed Rate Ending
The fixed period ending is a decision point, not just a date. Compare the lender's rollover path with refixing, splitting, moving variable or refinancing before the loan chooses for you.
A fixed rate expiry review checks what happens when your fixed period ends, including the revert rate, refix offer, variable and split options, break-cost risk, repayment shock and whether comparing other lenders is worth the costs. It does not mean you have to refinance.
If your fixed period ends in the next few months, ask the lender for its rollover rate, refix options and written break-cost details. Then compare refixing, variable, split, repricing and refinancing on the same remaining term and with the costs included. Read the refinance-cost guide before treating a lower advertised rate as the answer.
When a fixed period ends, the loan may roll to a revert variable rate unless you choose another option with the lender or refinance. The useful review happens before that rollover removes your time to compare.
Find the expiry date, current repayment, expected revert rate and remaining loan term.
Do not wait for the first higher repayment to start the review.Compare the lender's refix offer with variable, split and refinance paths.
Certainty has value, but it can reduce flexibility.Ask the lender for a written break-cost quote and check how long it remains valid.
A verbal estimate is not enough to rely on.If no change is made, check the revert repayment and decide the next review date.
Rollover can still be a choice, not a failure.Bring the facts that decide whether rollover, refix, split, variable or refinance is even worth comparing.
Fixed-rate expiry date.
Loan contract, lender email or banking app.Current fixed rate and expected revert rate.
Current loan statement plus the lender's expiry or rollover notice.Current repayment and estimated post-expiry repayment.
Repayment calculator or lender notice once the revert rate is known.Break cost if acting before expiry.
Written quote from the lender if changing before expiry.Options to refix, split, switch variable or refinance.
Lender offer, broker comparison or product switch notes.Offset, redraw and extra repayment needs.
Banking app and loan feature summary.Documents needed if comparing lenders.
Payslips, statements, debts and property details if another lender is being checked.Refinancing is only one possible result. The fixed expiry review should show which option deserves a deeper look before anything is signed.
The loan moves to the lender's variable revert rate. It may keep things simple, but the rate and features still need checking.
When it fits: More likely to fit when the revert rate is competitive and you want flexibility soon.You choose a new fixed period with the current lender, keeping repayment certainty for another period.
When it fits: Useful when budget certainty matters more than flexibility, and the new fixed offer stacks up.Part of the loan stays fixed and part moves variable, which can balance certainty with offset, redraw or extra repayment needs.
When it fits: Worth checking when you want some repayment certainty but still need flexible features.The loan moves to a variable structure, either with the current lender or after a product change.
When it fits: Can fit when you want flexibility, expect plans to change or need features a fixed loan restricts.A broker compares other lenders against the current lender's options, including costs, term and lender assessment.
When it fits: Worth the effort when the lender's options fall short and switching costs do not erase the benefit.Check costs before switchingIf the break cost is high or plans are unsettled, the cheaper decision may be to wait and review again before rollover.
When it fits: Sensible when timing works against you now but the expiry date is close enough to revisit.Before you choose
If you leave a fixed loan before the fixed period ends, the lender may quote a break cost. Ask for the written number before making decisions or comparing a new lender.
MoneySmart warns fixed loans may carry a break fee if they are broken before the fixed period ends. Get the written lender quote before comparing savings.
A new fixed period can help with budget certainty, but it can restrict extra repayments, offset access or another change later.
Letting the loan revert may be fine, but it should be checked against rate, fees, features, term and plans.
Use the calculators as estimates only. They help frame the question a broker or lender still needs to check with real rates, costs and policy.
Common questions
Start before the expiry date so there is time to compare the revert rate, refix options, variable options and refinance costs. Waiting until after rollover can leave you reacting to the new repayment rather than choosing deliberately.
It is a fee a lender may charge if a fixed loan is repaid, refinanced or changed before the fixed period ends. The lender needs to quote it, and the number can change with rates and timing.
No. The review should compare staying with the current lender, refixing, splitting, moving variable or refinancing. Staying can be legitimate when the current offer fits and the cost of changing is not worth it.
It is the rate the loan may move to when the fixed period ends if no new arrangement is made. It can be higher or lower than your fixed rate, so the repayment should be checked before expiry.
Not automatically. A new fixed period can help with certainty, but it may reduce flexibility around extra repayments, offset, redraw, selling, renovating or refinancing later.
Bring the fixed expiry date, current rate, current repayment, loan balance, remaining term, expected revert rate if known, any lender refix offer, offset or redraw balances, and plans that could change the loan.
It cannot decide whether a loan suits you, what a lender valuation will say, or the exact break cost. Those need lender quotes, lender assessment and licensed broker review.
General information only. It does not account for your personal circumstances. Guidance on this page was checked against official Australian sources:
Fixed rate review
Share the fixed expiry date, current repayment and lender offer through Quick Check so a broker can pick up the comparison. General information and intake only. Any lending is subject to lender assessment.
