Fixed Rate Ending? A 90-Day Plan to Check Your Home Loan First

Written by Ferns Finance. Last updated 20 October 2026.

When your fixed rate ends, your home loan usually moves to your lender's variable rate, known as the revert rate, unless you switch loans or agree to another fixed period (Moneysmart, 16 September 2026). That rate can sit well above the fixed rate you have been paying, so the best time to act is before the date, not after it.

The RBA raised the cash rate by 25 basis points to 4.60% on 29 September 2026, the fourth increase of 2026, and said it may lift rates further if needed (RBA, 29 September 2026). Lenders have been passing rises on to variable rates, so your revert rate may be higher than you expect. Whether you are in Logan, Beenleigh, the Gold Coast or Brisbane, here is a simple 90, 60 and 30 day plan.

Key takeaways

• Unless you act, a fixed loan usually moves to the lender's variable (revert) rate when the term ends (Moneysmart, 16 September 2026).
• Lenders must give written notice when your interest rate and repayment change (ASIC, 19 January 2024). The notice tells you what is changing. It does not compare the market.
• Around 90 days out, ask your lender for the revert rate and its best retention offer.
• Around 60 days out, check your property value. With 20% or more equity you have more to bargain with (Moneysmart, 29 July 2026).
• By 30 days out, compare your options in dollars per month, after switching costs.

What happens to my home loan when my fixed rate ends?

A fixed rate holds your rate and repayments steady for a set period, usually one to five years. When it ends, the loan usually moves to the lender's variable rate unless you switch lenders or agree to another fixed term (Moneysmart, 16 September 2026).

Your lender sets the revert rate, so ask early. Moneysmart suggests asking what rate the loan will revert to, how much your repayments could rise, whether you can switch when the fixed period ends, and what fees apply if you refinance before the end.

Will my lender tell me before my fixed rate ends?

Lenders must give written notice about changes to your annual interest rate and repayment amount. In January 2024 the Federal Court ordered a lender to pay $820,000 after it pleaded guilty to charges that included failing to send some customers the required notices when their fixed-rate or interest-only periods ended (ASIC, 19 January 2024).

So expect a notice, and read it. But treat it as a prompt to act, not as the best offer available. It tells you the new rate, not whether that rate is competitive.

What should I do 90 days before my fixed rate ends?

1. Find the exact expiry date. Check your loan contract, latest statement or online banking.
2. Ask your lender two questions. What rate will my loan revert to, and what is your best retention offer? Moneysmart notes that if you say you are considering a cheaper loan elsewhere, your lender may reduce your rate to keep your business.
3. Write both numbers down. You will compare them against other options later.
4. Ask about costs. A break fee may apply if you switch before the fixed period ends (Moneysmart, 16 September 2026).

What should I do 60 days before my fixed rate ends?

Check what your property is worth. With at least 20% equity you have more to bargain with, and with less than 20% a new lender may charge lender's mortgage insurance, which can outweigh the savings from switching (Moneysmart, 29 July 2026).

Values can move either way. The RBA noted on 29 September 2026 that housing prices have fallen in most capital cities, so your equity may be lower than when you last checked. A valuation or a broker's estimate shows where you stand, and it is a good time to ask for quotes from other lenders.

What should I do 30 days before my fixed rate ends?

This is the decision point. Compare three outcomes in dollars per month: the revert rate, your lender's retention offer and a refinance.

If you are considering refinancing, allow time. A refinance involves a valuation, an application, an approval and a settlement, and how long that takes varies by lender. Starting in the final month leaves little room for delays.

What does the difference look like? (Hypothetical example)

Say a borrower has $640,000 left to pay over 27 years on a principal and interest loan. These are illustrative rates only, not lender rates.

• Current fixed rate, 5.14%: about $3,657 a month.
• Revert rate, 6.84%: about $4,335 a month, roughly $679 more, or $8,143 a year.
• Retention offer, 6.34%: about $4,130 a month, roughly $205 less than the revert rate, or $2,461 a year.
• Refinance rate, 6.14%: about $4,050 a month, roughly $286 less than the revert rate, or $3,430 a year, before switching costs.

Should I take the retention offer or refinance?

It depends on how much the refinance saves compared with the retention offer, and what it costs to switch. Here the refinance is about $81 a month cheaper than the retention offer. If switching costs were $2,000 in discharge, application and settlement fees (also illustrative), it would take about 25 months of that saving to cover them.

If you expect to keep the loan well beyond that, switching may be worth it. If you may sell sooner, or the retention offer is already competitive, staying could be the better move. Moneysmart suggests comparing break fees, discharge fees, application fees and switching fees, and keeping the new loan term close to the years you have left, because a longer term means more interest.

Next steps: your fixed rate checklist

1. Find your expiry date. Loan contract, statement or banking app.
2. Ask for the revert rate and the retention offer. Write both down.
3. Get a current property value. It shows your equity and your options.
4. Run the numbers. Use our Fixed Rate Expiry Calculator to compare the revert rate, a retention offer and a refinance.
5. Ask for quotes from other lenders. We can do this for you.
6. Decide before the final month. Leave time for a refinance if you choose one.

Fixed rate ending soon? Let's talk.

Book a free discovery call and we will compare your revert rate, your retention offer and the wider market.

See our refinancing page and our loan comparison calculator.

Common questions

What is a revert rate on a home loan?

A revert rate is the variable rate your loan moves to when the fixed period ends, unless you switch loans or agree to another fixed term. Your lender sets it, so ask what it will be and how much your repayments could rise.

Will my lender contact me before my fixed rate ends?

Lenders must give written notice about changes to your interest rate and repayment amount, and a lender was penalised in 2024 for failing to send some of those notices. Read the notice, then compare it with other options before accepting the new rate.

How long before my fixed rate ends should I start looking at my options?

There is no fixed rule, but about 90 days out gives you time to ask your lender for its revert rate and retention offer, check your property value and, if you refinance, allow for a valuation, application and settlement.

Can I refinance before my fixed rate ends?

Yes, but a break fee may apply if you switch before the fixed period ends. Ask your lender what fees could apply and compare them with the savings from the new loan. A broker can run those numbers before you decide.

Does my property value affect the rate I can get when I refinance?

It can. With at least 20% equity you have more to bargain with, and with less than 20% a new lender may charge lender's mortgage insurance, which can outweigh the savings. A current valuation shows where you stand.

How can a broker help when my fixed rate is ending?

We can find your expiry date and revert rate, compare your lender's retention offer against other lenders, and work out the real saving after fees in dollars per month. If refinancing makes sense, we handle the application through to settlement.

General information only. This article is general educational content and is not financial, tax or legal advice. Speak to a qualified professional about your circumstances.