Fraser Rise · Refinancing
Fixed Rate Ending? A Fraser Rise Homeowner Checklist
Before your fixed period ends, check the repayment that follows and compare your options without relying on rate predictions.
By Offset Mortgage · General mortgage information
Confirm the date and the next repayment
If your Fraser Rise home loan is approaching the end of its fixed period, check the expiry date and what the lender says will happen next. Ask for the rate, fees and estimated repayment that would apply if you make no change. Review that repayment against your household budget rather than waiting until the first new payment is due.
Ask your current lender what is available
A refinance is not the only possible response. Your existing lender may have other products or pricing available, so include those in the comparison. Look at offset eligibility, redraw access, repayment flexibility and fees as well as the rate. The features that suited you when you first bought may not match the way you now manage your money.
Compare timing and switching costs
Switching before the fixed period ends can involve a break cost, depending on the loan and timing. Ask the lender for a current estimate rather than assuming a cost applies or does not apply. If you plan to refinance, allow for document collection, lender assessment, valuation and settlement. No universal processing time can be promised, so discuss your expiry date early.
Make a decision based on your circumstances
Choosing fixed, variable or a combination is not simply a bet on where rates move next. Consider repayment certainty, flexibility, expected changes in income and any plans to sell or make extra payments. Chris and our team can explain relevant options and costs from our Fraser Rise office on Eastcastle Drive or by phone or video. A review provides information for a decision; it does not guarantee savings or approval.
