Fixed vs Variable › What happens when my fixed rate ends?

What happens when my fixed rate ends?

Your loan usually reverts to the lender standard variable rate, which is often higher than sharp market rates. This is the moment to review, refix, or refinance, rather than letting it roll onto the revert rate by default.

Written by Ross McFarlane, Licensed Mortgage Broker (Credit Representative 526725). About the author

Why this matters

Many borrowers lose money simply by doing nothing when their fixed term ends. The automatic revert rate is frequently uncompetitive. Treating the end of a fixed term as a prompt to shop around, refix, or refinance can save a meaningful amount. Set a reminder for a month or two before it expires so you are not caught off guard.

The key points

It usually reverts to the standard variable rate.
That revert rate is often uncompetitive.
Review, refix, or refinance at this point.
Do not let it roll over by default.

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Last reviewed: June 2026

General information only. This page provides general information about home loans and is not financial or credit advice, a quote, or a guarantee, and your personal circumstances have not been considered. Lending policies, interest rates, fees and eligibility vary by lender and change over time. Always confirm your own situation with a licensed mortgage broker or lender before acting. Ross McFarlane (Credit Representative 526725) is an authorised Credit Representative of Australian Associated Advisers Pty Ltd t/a Keylend, Australian Credit Licence 392169.