Get Westpac Refix Form

When you remortgage the lender will do a valuation of your property, but how do you know if the valuation is accurate? We look at how lenders carry out their valuations and ways you can check whether or not the valuation is a fair value.

Refixing your loan means you stay with the same lender and make an agreement not to change the loan for a period of time. In return the bank will fix the interest rate and repayments, usually at a much lower level.

Ideally, you should start planning to remortgage around six months before your fixed rate period ends. Acting early can also help you avoid extra payments.

Yes, there's no reason why you can't leave your fixed rate mortgage early and switch to another lender - but you'll need to consider whether the total sum of your Early Repayment Charges, exit fees and other rates outweigh the benefits of switching, as you may find yourself worse off than before.

Remortgage vs. Refinance: What's the Difference? A remortgage and a refinance both describe the same concept of using a new loan to pay off the present mortgage. The only difference is that while 'refinancing' is the term used in Canada and the United Kingdom, 'remortgaging' is commonly used in the United States.

You can switch your rate if your mortgage doesn't come with an early repayment charge or if you're in the last 180 days of an early repayment charge period.

How can I book in a new fixed rate? You can book in a new fixed rate up to 60 days before the end of your current fixed term through Westpac One® online banking (if eligible) or by getting in touch with us.

Your lender will usually allow you to refix your home loan, but you want to make sure that you'll be locking in a competitive interest rate. If you'd like some interest rate stability but don't like the idea of locking yourself into a rate for years, you could pick a 1-2 year fixed rate or even consider a split loan.