What happens when your mortgage rate expires? 
by Jules Knox | 09 May 2022


Refixing your loan under a new fixed term
Switching to a variable home loan rate
Opting to split your loan into new fixed and variable loans
Refinancing your home loan to another lender for a better rate

Once this period ends, you’ll need to decide what to do next. You’ll have four options:

  1. Refixing your loan under a new fixed rate term
  2. Switching to a variable home loan rate
  3. Opting to split your loan into new fixed and variable loans
  4. Refinancing your home loan to another lender for a better rate

If you don’t choose to refix your mortgage (or if you don’t take any action at all), your interest rate will typically get switched to your lender’s current variable interest rate until you specify otherwise. Unless you renegotiate your rate, the ‘revert’ rate applied at the end of the fixed term tends to be lender’s standard variable rate, which could ultimately cost you thousands of dollars in a ‘loyalty tax’ over the years. 

Click here to reach all about your four options.

Fixed interest rate term ending? Let us help. 

If your fixed-rate term is coming to an end and you need some expert advice, speak to our Lending team today.   

Our licenced mortgage brokers are experts in lending advice, and will help you weigh up your options, answer any questions you may have, and assist you in securing the best home loan rate and structuring your loans in the best possible way for your unique situation.   

Get in touch with us now for your free home loan health check.

If you would like to know more about your home loan, please contact us today 02 9232 6800 or email lending@evalesco.com.au



Share on Facebook

Share on Email

Share on Linkedin

Jules Knox
jules@evalesco.com.au | 0412 045 098 | 02 9232 6800


Sign up to get the latest insights with our newsletter delivered straight to your inbox

“How will I measure the value or success of receiving financial advice?”

We believe the true value of financial advice isn’t found in dollars and cents (although this is important too!) but in the peace of mind a financial plan can provide. It’s knowing where you want to go and how to get there, with a dedicated team behind you every step of the way.

“How do I know Evalesco is the right fit for me?”

We know the impact of good holistic financial advice can make and we have the life experience, technical capability and quality support team that can make that difference for you. We’ve empowered over 1000 families through the delivery of great financial advice, to be healthy, wealthy and happy.

“How do I know how much money I will need to retire?”

The amount of super you’ll need when you retire depends on your big costs in retirement and the lifestyle you want. The Associate of Superannuation Funds of Australia (ASFA) estimates for a single $44,224 a year and for couples $62,562 a year is how much you may need. This is only an indicator and our advisers assess everyone’s individual circumstances.

“Why should I pay for financial advice?”

The fees we charge for financial advice is only a fraction of the value we derive for our clients, meaning our clients are always better off after seeing us. Rarely do we encounter a new client invested appropriately for their needs, with adequate risk protection, structuring and estate planning provisions in place. Even small tweaks to a financial plan over a long period of time can result in drastically better outcomes for our clients which eclipses the fees of the financial advice. Additionally, you can opt-out of an ongoing fee arrangement at any time.

“How do you charge for your services?”

In our discovery meeting with you our advisers discuss the initial advice fee and the ongoing fees associated with our services.

“What is the process for getting our own personal financial plan?”

After our initial phone call to discuss why you are seeking a financial adviser, we arrange a discovery meeting that outlines what is important to you, your current position, our areas of advice, our approach. We then present a Statement of Advice (SoA) to discuss your goals and our recommendations and go through the steps of how to proceed to the implementation stage. After signing the SoA, we discuss your questions, get you to sign the authority to proceed and complete any application forms before implementing the recommendations detailed in the SoA.

“Should I pay more off my mortgage or put more money into super?”

One thing to consider is the interest rate on your home loan in comparison to the rate of return on your super fund. Before making a decision, it’s also important to weigh up your stage in life, particularly your age and your appetite for risk. Whatever strategy you choose you’ll need to regularly review your options if you’re making regular voluntary super contributions or extra mortgage repayments. As bank interest rates move and markets fluctuate, the strategy you choose today may be different from the one that is right for you in the future

previous arrow
next arrow

Evalesco Financial Services Level 17, 20 Bond Street Sydney NSW 2000
Phone: (02) 9232 6800

The information provided on and made available through this website does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Evalesco Financial Services do not warrant the accuracy, completeness or currency of the information provided on and made available through this website. Past performance of any product discussed on this website is not indicative of future performance. Copyright © 2019 Evalesco Financial Services. All rights reserved

Evalesco Financial Services Pty Ltd is a Corporate Authorised Representative (325313) of Australian Advice Network Pty Ltd.

ABN: 13 602 917 297 AFSL: 472901