What to do if your fixed rate or interest only term is due to expire in 2023

Investopoly · Feb 7, 2023 · 19m

It has been very well reported that many mortgage holders will soon be paying much higher interest rates when their fixed rate terms expire. It is estimated that $478 billion worth of fixed rate mortgages are due to expire in 2023. In addition, borrowers may also have to navigate the end of an interest only term, which typically apply to investment loans. This blog sets out our advice on how to navigate these changes. What are your options? Fixed rate expiry If your fixed rate is maturing, you have two options. You can re-fix your interest rate for another term or allow the interest rate to…