Refixing or Refinancing? How to Know When It’s Time to Review Your Mortgage
When interest rates move or your financial situation changes, it’s a good idea to review your mortgage. But should you refix your loan—or refinance it entirely? Here’s what you need to know to make the right call.
What is Refixing?
Refixing means locking in a new fixed interest rate with your current lender when your existing fixed term ends.
Why consider refixing?
Interest rates are rising and you want to lock in a new rate before they go higher
You’re happy with your current lender and just want to update the rate
You want stability and predictable repayments for the next term
What is Refinancing?
Refinancing involves moving your mortgage to a new lender—often to get a better interest rate, more flexible terms, or access new lending features.
Why consider refinancing?
You want to take advantage of lower rates with another bank or lender
You’re not satisfied with your current lender’s service or flexibility
You want to consolidate other debt into your home loan
You’re borrowing more (e.g. for renovations or investment)
How to Know When It’s Time to Review
Your fixed term is ending soon
Interest rates have changed significantly
Your financial goals or situation have changed
You’re thinking about topping up, renovating, or restructuring debt
Need Expert Guidance? Not sure whether to refix or refinance? We’re here to help. At Boost Brokers, we’ll review your current mortgage, explore your options, and help you make the choice that best supports your financial future.
Book a free mortgage review with us today—it could save you thousands.