Investment Loan Fixed Rates Ending? Review Every Loan, Not Just One

Written by Ferns Finance. Last updated 20 October 2026.

If you own more than one investment property, you probably have more than one loan, and the fixed periods rarely end on the same day. When a fixed rate ends, the loan usually moves to the lender's variable revert rate unless you switch or agree to another fixed period (Moneysmart, 16 September 2026). Miss one date and one loan can quietly cost more than the rest.

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). For investors, the question is not only "what will each loan revert to?" but "what do all of them cost together?"

Key takeaways

• Each loan has its own expiry date. List every one before you decide anything.
• An interest-only period ends separately from a fixed rate. When it ends, repayments rise because you start paying principal (Moneysmart, 29 July 2026).
• Ask your lender for a retention offer on each loan. Lenders may reduce your rate if you say you plan to switch (Moneysmart, 29 July 2026).
• Equity matters. With at least 20% equity you have more to bargain with, and with less a new lender may charge lender's mortgage insurance (Moneysmart, 29 July 2026).
• Speak to your accountant about tax before you restructure anything.

Why is reviewing investment loans different from reviewing a home loan?

With one home loan you review one date. Investors often have several loans, sometimes with different lenders, rate types and repayment types. Each one can revert to a different rate on a different day.

Your lender must give written notice when your interest rate and repayment amount change. 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 fixed-rate or interest-only periods ended (ASIC, 19 January 2024). Notices can still go to an old address or get lost among other mail, so do not rely on them alone.

What is the difference between a fixed rate ending and an interest-only period ending?

They are two separate events, and they can fall on different dates.

• Fixed rate ending: the interest rate usually moves to the lender's variable revert rate (Moneysmart, 16 September 2026).
• Interest-only ending: the loan converts to principal and interest, so repayments rise because you begin paying down the loan over a shorter remaining term (Moneysmart, 29 July 2026).

Some loans face both on the same day, and that is where the jump can be largest. Moneysmart suggests giving yourself breathing room, asking your lender for a better deal and talking to your lender early if you are worried about the repayments.

How do I map my investment loan expiry dates?

1. List every loan. Include lender, balance, rate type, repayment type and the property it is secured against.
2. Add two dates per loan. The fixed rate end date and the interest-only end date, if there is one.
3. Add the revert rate and the new repayment. Ask each lender what the loan reverts to and what the repayment becomes.
4. Check the security. Note whether any loan is linked to another property, because changing one loan can affect the others.
5. Sort by date. Start with the loan that ends first.

What could this look like?

These are illustrative rates only, not lender rates, and each loan is secured by a different property.

• Loan A, $520,000 interest-only, fixed 5.29%: about $2,292 a month. At a 6.99% revert rate it is about $3,029, roughly $737 more. With a 0.50% retention reduction (6.49%) it is about $2,812, roughly $217 less than the revert rate, or $2,600 a year.
• Loan B, $410,000 principal and interest, 28 years, 5.09%: about $2,292 a month. At 6.79% it is about $2,730, roughly $438 more.
• Loan C, $300,000 principal and interest, 24 years, 4.99%: about $1,789 a month. At 6.79% it is about $2,114, roughly $325 more.

If all three revert, the monthly increase is roughly $1,500 across the portfolio. Reviewing only one loan would miss most of it.

What if my interest-only period is ending too?

Say a $450,000 loan is interest-only at 6.89% and costs about $2,584 a month. If it rolls to principal and interest over 25 years at the same rate, the repayment is about $3,149, roughly $565 more. Nothing about the rate changed. The structure did.

Ask whether you can extend the interest-only period, which may need a new assessment, or whether another loan structure suits your goals. Your accountant can explain how that affects your tax position.

Should I take the retention offer or refinance?

Ask for a retention offer on each loan first. It costs nothing, and Moneysmart notes your lender may reduce your rate if you say you plan to switch. Then compare it with a refinance in dollars per month, after break, discharge, application and switching fees (Moneysmart, 29 July 2026).

Equity changes the answer. The RBA noted on 29 September 2026 that housing prices have fallen in most capital cities, so a recent valuation matters. If equity has dropped below 20%, a new lender may charge lender's mortgage insurance, which can outweigh the saving. If you are cross-secured, check how changing one loan affects the others before you move anything.

Next steps: your investor checklist

1. List every loan and both dates. Fixed rate end and interest-only end.
2. Ask each lender for the revert rate and retention offer. Write them down per loan.
3. Get current valuations. They show your equity and your options.
4. Run the numbers. Use our Fixed Rate Expiry Calculator for each loan and our Usable Equity Calculator to see your equity.
5. Speak to your accountant. Before you change structure or repayment type.
6. Decide loan by loan. Start with the earliest date.

Investment loans ending soon? Let's talk.

Book a free discovery call and we will map your expiry dates and compare your options across the market.

See our investment loans page.

Common questions

What happens when the fixed rate on my investment loan ends?

It usually moves to your lender's variable revert rate unless you switch lenders or agree to another fixed term. Ask each lender what the revert rate is and how much your repayment will change.

Is the end of a fixed rate the same as the end of an interest-only period?

No. They are separate and can fall on different dates. When interest-only ends, the loan converts to principal and interest, so repayments rise even if the rate stays the same.

Should I ask for a retention offer on every investment loan?

Yes, loan by loan. Lenders may reduce your rate if you say you plan to switch. Write down each offer and compare it with the revert rate and a refinance in dollars per month.

Can I refinance one investment loan and keep the others?

Often yes, but it depends on how your loans and securities are linked. Cross-secured loans can be affected when one changes, so check this before you start. A broker can map it for you.

Does falling property value affect my options?

It can. With at least 20% equity you have more to bargain with, and with less a new lender may charge lender's mortgage insurance. A current valuation shows where each property stands.

Who should I talk to about tax on my investment loans?

Your accountant. We can compare loans and repayments, but tax advice about interest deductions and structure is for a qualified tax professional.

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.