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Fixed Rate Review: When Should You Refinance?

Published · Updated

Adelaide Levy

Written by Adelaide Levy · Relationship Manager — Mortgages, Orange Network

Reviewed by Chad Weber · Head of Lending

If your fixed rate is expiring in the next 90 days, now is the time to review. Rolling onto your bank's default variable rate is rarely the best option.

Compare at least three lenders — rates, cash-back offers, and loan structure all matter. A 0.25% difference on a $500,000 loan saves $1,250 per year.

Consider splitting your loan across fixed terms to balance certainty with flexibility. We model scenarios to find the structure that fits your plans.

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Frequently Asked Questions

When should I review my fixed rate?
About 90 days before it ends. That leaves time to compare your bank's re-fix offer against other lenders, including any break cost or cash-back clawback, before the loan rolls onto a default floating rate.
Should I refix with my own bank or switch?
Compare the total cost of both over the new term. Staying avoids legal and valuation costs; switching can win when the rate, structure, or cash contribution outweighs those costs. We put both offers side by side.
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