My Fixed Rate Period Is Ending Soon — What Are My Realistic Options Before It Expires?
Your fixed rate expiry is often when lenders move the loan onto their standard variable rate. It’s your natural opportunity to go to market and find one that works for you.
The expiry of a fixed rate period is one of the most predictable financial events in a homeowner’s calendar — and one of the most underutilised windows to act. Most borrowers let the loan roll to the standard variable rate without reviewing whether it’s competitive.
What Happens at Expiry
Your loan reverts to the lender’s standard variable rate — also called the revert rate. This is often higher than rates offered to new customers, depending on lender pricing. The lender doesn’t automatically move you to a competitive rate. That’s your job.
Option 1: Re-Fix With Your Current Lender
If you’re satisfied with your lender and the rate they can offer on a new fixed term is competitive, re-fixing is low friction. Contact them 60–90 days before expiry.
Option 2: Switch to a Competitive Variable
If the revert rate is uncompetitive, moving to a market-competitive variable rate — with your current lender or a new one — can reduce your ongoing repayments immediately.
Option 3: Refinance Entirely
Fixed expiry is a natural trigger to review the whole loan: rate, features, loan structure, whether an offset account now makes sense. A refinance at this point has no break costs and a window where the comparison is clear.
You may wish to speak with a licensed mortgage broker to assess your personal circumstances.
This is general information only. Fixed rate options and lender policies vary. Speak with a licensed mortgage broker well ahead of your expiry date. All loans are subject to lender approval.
Sources: ASIC MoneySmart, Refinancing Your Home Loan 2025; RBA, Housing Finance Data 2025; MFAA Industry Intelligence Service Report 2025.
