What happens at the end of my fixed rate home loan period?

If you have a fixed home loan with us, it'll automatically revert to our standard variable rate at the end of the fixed rate period, minus the discount outlined in your home loan contract.

You’ll know your home loan interest rate is changing because we’ll send you a letter in advance to let you know. We’ll also send you an Account Position Statement once it happens, which will include relevant info like your new interest rate and repayment amount.

However, you don't need to automatically roll to the variable rate if you don't want to – check out your other options below or chat with a Home Lending Specialist.

Options for when your fixed rate ends

A variable rate means your repayments will change (go up and down) in line with the standard variable rate. If this is what you're after, you don't need to do anything – it'll automatically happen once your fixed term is finished.

If you've enjoyed the stability of knowing your repayment amount and the security that your rate won't change for an agreed period, you can fix your loan again with a new interest rate and term.

You may be able to split your loan between variable and fixed. This means you'll still have certainty on the fixed rate part of your loan, plus flexibility on the variable rate part of your loan.

If you're concerned about rolling onto a higher variable rate

We know you might be feeling the pinch right now with the rising costs of day to day living. The thought of rolling off your lower interest rate may be scary or overwhelming, and it might be hard to think how you'll manage your expenses and still do the things you enjoy like travel or dinner with friends.

Rest assured there are things you can do to help reduce the impact when your repayments increase at the end of your fixed term, and a few ways you can reach out if you need extra support.

Here’s what you can do right away:

Check if you still have the right home loan for your situation
Consider debt consolidation to save on interest if you have personal loans or credit cards
Review your expenses and use our budgeting calculator
Make changes to your repayment frequency or type
Use your offset accounts to reduce the interest you pay.

And of course, you can get in touch with a Home Lending Specialist to talk about your interest rate, flexible payment options, or other ways we can help you. It’s a good idea to get independent financial advice too.

If you have any concerns about your situation, contact us as soon as possible so we can support you – we're here to help.

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