When your fixed home loan rate is coming to an end, it can be easy to wait for the lender’s refix letter and choose from the rates offered. However, a mortgage refix is a good time to step back and review the bigger picture.
We help you look at your options earlier, compare your current lender’s refix offer against other available home loan rates, and check whether your mortgage is still structured around your current income, lifestyle, goals, and future plans.
A refix is choosing a new fixed rate on a loan you already have, with the lender you already have. Your mortgage doesn't move. No new security, no lawyer, no discharge.
Restructuring is the next layer. That's changing how the loan is built: how many splits it runs across, how long the term is, whether part of it sits on floating, offset or revolving credit, and how much you repay each time.
Refinancing is the third option, and it's a different job. That means moving the whole mortgage to another lender, with a new application and a legal transfer. We cover refinancing and changing banks separately.
It is worth looking at your refix before your fixed rate actually ends.
Your lender may send you refix options close to your loan maturity date, but waiting until then can leave you with less time to compare rates, review your loan structure, and make a considered decision.
Looking earlier gives you more time to understand what your current lender is offering, what other options may be available, and whether your mortgage still suits your income, repayments, goals, and future plans.
Some lenders may allow you to lock in a new fixed rate before your current rate ends, but the timing, conditions, and trade-offs vary. Locking in early may provide certainty if rates move up, but it could also mean missing a sharper rate if rates move down.
We help you review the options, clearly explain the trade-offs, and make a refix decision based on your situation rather than rushing at the last minute.
When your fixed rate ends, your loan does not stop. If no new rate is selected, your lender will usually move the loan based on the terms in your loan agreement.
Depending on the lender, this could mean moving onto a floating rate, a default rate, or another rate option available at the time.
That may not be the most suitable option for your situation.
Reviewing your refix before the maturity date gives you time to compare what your current lender is offering, look at other available options, and check whether your loan is still structured in a way that suits your income, repayments, and plans.
Even a small difference in interest rate or loan structure can affect your repayments over time, so it is worth reviewing your options before the fixed term ends.
A short conversation before your refix date can help you make a more informed decision, rather than leaving it to the last minute.
There is no single fixed term that suits everyone.
The right option depends on your loan, your budget, your plans, and how much certainty or flexibility you want over the next few years.
A shorter fixed term can give you more flexibility. This may suit you if you are thinking about selling, expecting a lump sum, reviewing your job situation, or wanting the chance to reassess your options sooner. The trade-off is that your repayments may change again sooner when the next fixed term ends.
A longer fixed term can give you more certainty. You know what your repayments will be for longer, which can make budgeting easier. The trade-off is that you are committing for a longer period, and breaking the loan early may result in break costs.
We help you compare the options, understand the trade-offs, and choose a fixed term structure that fits your situation rather than simply picking the lowest rate on the day.
Splitting your mortgage means dividing your loan into two or more portions, often with different fixed-rate terms.
For example, part of the loan might be fixed for six months, another part for one year, and another part for two or three years.
This can give you more flexibility because your whole mortgage does not come up for review on the same date. If rates have changed when one portion matures, only that part of the loan is affected at that time. The rest of the loan continues on its existing terms.
Splitting can also help spread your refix decisions over time, rather than having to make one decision for the full loan balance at once.
The trade-off is that it creates more moving parts. Each loan split has its own rate, repayment amount, and maturity date, so it needs to be managed properly.
We help you review whether splitting your loan makes sense for your situation, compare different fixed-rate terms, and keep track of each maturity date so you can make decisions before each portion comes up for review.
Your interest rate is only one part of your mortgage. The structure of your loan can affect your repayments, flexibility, interest cost over time, and how easily the loan fits around your current life.
Restructuring may include:
Some changes may be possible with your current lender at refix time. Others may require a new application, affordability assessment, or updated approval.
We help you understand what can be changed, what the trade-offs are, and what needs to be approved before you commit to anything.
Yes, you may be able to increase your repayments when you refix, depending on your lender, loan structure, and affordability.
A refix can be a good time to review whether you want to keep repayments the same, increase them, or adjust the way your loan is structured.
For example, on a $600,000 loan over 25 years at 5.45%:
This example assumes the interest rate and repayment amount stay the same for the full loan term, which is unlikely in real life. Rates, loan balances, and repayment choices will usually change over time, so the actual result will be different.
The key point is that even a small regular increase can make a meaningful difference over time, especially when it is made earlier in the life of the loan.
Fixed loans may limit how much extra you can repay without fees or charges. Floating, offset, or revolving credit portions may offer more repayment flexibility, depending on the lender.
We can help you review what your lender allows, compare repayment options, and structure your loan so any extra payments fit your budget and goals.
Use our repayment calculator to see what a change could mean for your own numbers.
Possibly. The rate shown in your lender's refix letter may not always be the only rate available.
What a lender is willing to offer can depend on factors like your equity, loan size, repayment history, account conduct, and overall lending position.
Before you refix, we can compare your current lender’s offer against other available home loan options. This gives you a clearer view of where your offer sits in the market before you make a decision.
In some cases, your current lender may be able to review their pricing. In other cases, staying with the same lender may still make sense because of cost, timing, loan structure, or your personal circumstances.
We help you understand the options, explain the trade-offs, and have the right conversation with your lender before you lock in a new rate.
Refixing at the end of your fixed term is usually straightforward. In many cases, you choose a new fixed rate and term, sign the lender's refix documents, and the new rate starts when the old one ends.
Costs are more likely to appear when you change the loan before the maturity date, increase your lending, or make more substantial changes to the mortgage structure.
Possible costs may include:
We help you understand which changes are simple, which may need lender approval, and what costs should be checked before you commit.
Refixing or restructuring is not about making changes for the sake of it. The goal is to check whether your current loan still suits your situation, and whether any change would actually improve your position.
Sometimes staying with your existing structure may make sense, especially if it still fits your plans and your lender’s offer is competitive.
A restructure may not be the right answer if:
In some cases, the right step may be a simple refix. In other cases, it may be worth looking at refinancing and changing banks.
We help you understand the options, the costs, and the trade-offs before you decide.
Call Sarah on 022 305 5696 or send your details through. We'll tell you whether this is a five minute refix or a bigger conversation.
A mortgage refix is more than choosing a new rate. It is a chance to review your current loan, compare available options, and check whether your mortgage still fits your life, income, and plans.
Plan My RefixWe record your current loan structure, including each split, balance, interest rate, maturity date, repayment amount, and remaining loan term. This gives us a clear starting point for the review.
We look at what has changed since your last refix, such as income, family situation, future plans, possible renovations, expected lump sums, or whether you may sell in the near future. Your loan structure should support your situation, not work against it.
We compare your current lender's refix offer against other rate and loan structure options that may be available through banks and non-bank lenders. This helps show whether your current offer is competitive and whether there may be better ways to structure the loan.
Where appropriate, we can go back to your current lender and ask them to review their pricing or structure options. You can then compare what your lender is offering against the other options available before making a decision.
We help you consider the right mix of fixed terms, loan splits, repayment amounts, and any flexible portion such as floating, offset, or revolving credit. Where calculations are used, we explain the assumptions clearly so you understand the possible impact on repayments and interest over time.
Once your refix or restructure is complete, we record your new maturity dates so the next review can start before your lender's reminder arrives.
The goal is to help you make a clear, informed decision before your fixed rate ends, rather than rushing at the last minute.
Sarah is super helpful and easy to work with, she actively communicated and answered all of my silly questions quickly. Highly recommend her for first home buyers and buyers in general. Great to work with and very informed!
Sarah was absolutely amazing in guiding us through the process as first home buyers. She truly went above and beyond, taking the time to answer all of our (sometimes silly!) questions and making sure we felt supported every step of the way. She was always available to help, even on weekends, whether by call or text, which made such a stressful process feel so much easier. We would highly recommend Sarah and couldn’t have asked for a better experience.
Sarah been amazing to deal with! She has helped my partner and I get into our first home. She answered all our thousands of questions! Which really helped us understand the process :) (thanks Sarah!!)
I had the pleasure of working with Sarah as my mortgage advisor for purchasing my first home, and I couldn’t be more grateful for her support throughout the process. From the very beginning, she was extremely helpful and transparent, explaining every detail in a way that made everything clear and easy to understand. I thought it would be a stressful and overwhelming experience but it was smooth and straightforward thanks to her guidance. She made the whole journey feel effortless. I would highly recommend Sarah to anyone looking for a reliable and supportive mortgage advisor.
Sarah has gone above and beyond for us and has been an amazing support while we were buying our first home! She was always available to answer any of our weird and wonderful questions and was super knowledgeable about all aspects of the process. We cannot thank her or recommend her enough! Thanks Sarah :-)
Sarah was awesome to deal with and helped us get into our first home :) She was super flexible with meeting times and uses google meets so that we could take the meeting from anywhere. Sarah is super friendly and no question was a dumb question for her, which made us feel really comfortable. She explained each step of the process really clearly and helped us apply for a home loan with the banks, fix our home loan and will be following us up when its time to re-fix. 10/10!
Refixing means choosing a new fixed interest rate and term on a loan you already have, usually with your current lender.
Your mortgage does not move to a new lender, and in most cases there is no legal transfer of the security.
Refinancing is different. It generally means moving your mortgage from your current lender to a new lender. This usually involves a new application, lender approval, new loan documents, and legal work to transfer the mortgage security.
A refix is usually simpler. Refinancing can be useful in some situations, but the costs, process, and timing need to be weighed up before making a decision.
This depends on your lender.
Some lenders allow you to lock in a new fixed rate before your current fixed term ends, often within 30 to 60 days of maturity. The exact timing, conditions, and fees vary by lender.
Locking in early can give you repayment certainty, but there is a trade-off. If rates increase before your refix date, you may benefit from having locked in earlier. If rates fall, you may miss out on a lower rate.
We can check your lender's rules, explain the trade-offs, and help you decide whether locking in early makes sense for your situation.
If you do not choose a new rate before your fixed term ends, your lender will usually move the loan based on the terms in your loan agreement.
Depending on the lender, this may mean moving to a floating rate, a default rate, or another rate option available at the time.
That rate may not be the most competitive option available to you, which is why reviewing your refix before the maturity date is worthwhile.
We can help you compare your lender's offer, check what other options may be available, and help you make a more informed decision before the fixed term ends.
Yes, in many cases you can refix one part of your loan and leave the rest on its current rate or structure.
This usually applies where your mortgage is already split into separate loan portions, each with its own rate, repayment amount, and maturity date.
Splitting your loan can give you more flexibility, because your whole mortgage does not come up for review on the same date. If rates have changed when one portion matures, only that part of the loan is affected at that point.
The right approach depends on your lender, loan structure, repayment goals, and how much certainty or flexibility you want.
Refixing at the end of your fixed term is usually straightforward and may not involve a separate fee.
Costs are more likely to apply if you break a fixed rate early, repay more than your lender allows on a fixed loan, or make changes requiring a new application or assessment.
For example, adding new lending, changing borrowers, changing security, or restructuring the loan more substantially may involve lender, valuation, or legal costs.
We can help you check what applies before you make a decision.
Yes, you may be able to change your repayment amount when you refix, depending on your lender, loan structure, and affordability.
Some borrowers choose to increase their regular repayments, shorten the remaining loan term, or adjust repayment frequency when choosing a new fixed rate.
Increasing repayments or shortening the loan term can help reduce the total interest paid over time, but the change needs to fit your budget and may require lender approval.
We can help you check what your lender allows, compare the impact of different repayment options, and ensure any changes are affordable before you commit.
In many cases, yes. Some restructure changes can be arranged with your current lender, depending on their policy, your loan type, and your overall position.
This may include changing loan splits, fixed terms, repayment frequency, repayment type, or adding features such as an offset or revolving credit facility where available.
Some changes are simple. Others may require lender approval, an affordability assessment, or updated loan documents.
If your current lender cannot offer the structure you need, comparing options with other lenders may be worthwhile before deciding whether to stay or refinance.
It depends on your goals, cash flow, and how much certainty or flexibility you want.
Fixing more of the loan can give you repayment certainty, which can make budgeting easier. Floating part of the loan may give you more flexibility to make extra repayments, but floating rates can change and may be higher than fixed rates.
Some borrowers choose a mix of fixed and floating portions so they can balance certainty with flexibility.
The right structure depends on your income, spending, savings, future plans, and whether you expect to make extra repayments or need access to flexible loan features.
We can help you compare the options and work out a structure that fits your situation.
A standard refix with your existing lender is generally not the same as making a new home loan application.
You are usually choosing a new fixed rate and term on lending you already have.
However, if you apply for extra lending, move to a new lender, change the borrowers, or make more substantial changes to the loan, the lender may need to complete a new assessment. This could include credit checks.
We can help you understand whether your change is a simple refix or whether it may require a new application.
There is no adviser fee payable by you for our mortgage advice service.
If your loan settles, we are paid by the lender you choose. This is not added to your loan as a separate adviser fee.
How we are paid, including any lender commissions, is explained clearly in our Disclosure Statement.
You do not have to wait for your lender’s refix letter before reviewing your options.
We can help you compare your current lender’s offer, review your loan structure, and understand what may be available before your fixed rate ends.
There is no adviser fee payable by you for our mortgage advice service. If your loan settles, we are paid by the lender you choose. This does not get added to your loan as a separate adviser fee.
Our recommendation is based on your loan, your structure, your goals, and your situation, not simply which lender is offering a rate on the page.
