Last reviewed: August 2026
Timing a Refinance Is About Your Situation, Not Just the Market
People often wait for a specific interest rate headline before considering a refinance, but the better trigger points are usually personal, not macroeconomic.
It has been a couple of years since your loan was reviewed
Lenders do not automatically reward loyalty. If your rate has not been reviewed in a couple of years, there is a reasonable chance better terms are available elsewhere, or your current lender will improve your rate if asked.
Your fixed rate period is ending
Loans commonly revert to a higher variable rate once a fixed term ends. Reviewing your options in the lead up to this date, rather than after it reverts, gives you more room to act.
Your financial position has improved
An increase in income, a drop in other debts, or growth in your property's value can open up better rates, lower LMI, or access to equity that was not available when the loan was first written.
Your goals have changed
Renovation plans, a new investment purchase, or a desire to consolidate other debts are all valid reasons to revisit your loan structure, not just your rate.
What actually happens when your fixed rate reverts
It is worth understanding the mechanics here specifically, since it catches a lot of borrowers off guard. On the day a fixed term ends, most lenders automatically roll the loan onto their standard variable rate, which is frequently higher than both the fixed rate you were on and the rates the same lender advertises to new customers. This is sometimes referred to as the loyalty tax. Reviewing your options in the 60 to 90 days before your fixed term ends gives you enough runway to either negotiate with your current lender or complete a refinance before that automatic rollover takes effect, rather than paying the higher reverted rate for months while you sort it out afterward.
How we help
We review your current loan against the market and your goals, factoring in break costs, discharge fees and any cashback offers, so you know exactly whether refinancing now makes sense or whether it is worth waiting.
Useful tools and resources
For independent guidance on switching home loans, see ASIC's Moneysmart guide to switching home loans.
To check whether now is genuinely a good time for you, try our free Refinance Feasibility Calculator.
