Refixing your mortgage is a key opportunity to review your loan and potentially save money — but timing matters.
What Does Refixing Mean?
Refixing is when you choose a new interest rate at the end of your current fixed term.
When Should You Start Thinking About It?
Ideally, start reviewing your options 60–90 days before your fixed term ends. This gives you time to:
- Compare rates
- Review your loan structure
- Consider your goals
What Should You Consider?
1. Interest Rate Trends
Are rates rising, falling, or stable?
2. Your Financial Situation
Has your income or spending changed?
3. Your Goals
Do you want to pay off your mortgage faster or prioritise lower repayments?
Common Mistakes
- Automatically accepting your bank’s offer
- Not reviewing your loan structure
- Missing opportunities to reduce interest costs
Could You Do More Than Just Refix?
Refixing is a great time to:
- Restructure your loan
- Consolidate debt
- Introduce offset or revolving credit options
The Opportunity
Done right, refixing isn’t just a routine step — it’s a chance to optimise your mortgage.
If your fixed term is coming up, reviewing your options early can help you make a more informed decision and potentially save thousands over time.