My fixed rate loan is about to expire, what will happen and do I need to do anything?
Last Updated: 18 Dec 2015
When the fixed rate period ends you have a number of options:
- You can do nothing, your loan will automatically revert to our standard variable interest rate and we'll write to tell you the amount of your minimum monthly or fortnightly repayment ; or
- You can choose another fixed interest rate period to begin immediately your current term expires; or
- You can review your home loan structure. For example, if interest rates have increased, you can extend your loan term to keep your repayments the same. If interest rates have dropped, you can take that opportunity to pay off your loan faster by shortening the loan term to keep your repayments the same; and
- You can split your loan across a variable and one or more fixed interest rate periods.
- We will contact you well before the expiry of your current fixed term. If you would like to talk to a Lending Specialist about these options, simply call 0800 100 600, or visit your nearest ASB branch.
Did this answer your question?
Related Answers
-
Your fixed interest rate and repayments stay the same. Once your home loan is advanced on a fixed interest rate, ...
-
View our current home loan interest rates and fees. Please keep in mind that all rates are subject to change ...
-
Please give your Account Manager or Personal Banker a call to discuss changes to your home loan. If you don't ...
-
Upon expiry date of your fixed rate home loan, it will automatically move to a variable rate home loan. There’s ...
-
You can choose to change the interest rate on your loan at any time when you are on a fixed ...
-
Good question. Our ASB Economist produces a report called the Home Loan Rate Report which provides a summary of interest ...
-
There are advantages and disadvantages to all of these options and you need to consider your personal circumstances when deciding. ...
-
Yes. You will be able to re-fix your home loan through Fastnet Classic internet banking. Select the loan that is ...
-
The best home loan strategy is one that takes into account your individual circumstances, like your cash flow. Does your ...
-
ASB’s ‘Rate Promise’ only applies to home loans re-fixed digitally via the ASB Mobile app or in FastNet Classic internet ...
