Has your Dream Fixed rate Just Ended?

Here’s What You Need to Know

Have you just had your dream fixed rate finish? It can feel like the end of an era—those predictable repayments have been a comfort. But now, you might be wondering: What’s next?

When your fixed rate ends, your loan usually switches to your lender’s standard variable rate. And here’s the kicker—it’s not always their most competitive rate. But don’t worry, this is a great opportunity to explore your options and potentially save money.

What Are Your Options?

Stay with Your Current Lender (But Negotiate!) Your loan doesn’t have to stay at the standard rate. You can ask your lender for a “repricing” to get a more competitive rate. Found a better deal elsewhere? Bring it to your lender—they might match it to keep your business.

Refinance to a New Lender Refinancing can open the door to better interest rates, cashback offers, or loan features that suit your lifestyle. But keep in mind:

There are costs involved, like application fees and legal costs.

If your loan-to-value ratio (LVR) is above 80%, you might need to pay Lenders Mortgage Insurance (LMI).

That said, the savings you could make often outweigh these expenses. A mortgage broker can crunch the numbers to show you what switching could really save you.

Plan Ahead and Take Control

Don’t wait until your fixed rate rolls off—start planning now! This is your chance to make sure your next step suits your goals. Whether it’s negotiating with your current lender or finding a new one, understanding your options can make a big difference.

Need help navigating this? That’s what I’m here for. Let’s talk about the best way to make your loan work for you!