Fixed Term Expiry Planner

Quick answer: Enter the date your fixed mortgage rate ends and this planner shows the exact days remaining, your repayment at a new rate you have been offered, and your repayment if you do nothing and roll onto the bank's floating rate. Most banks move an unresolved loan straight onto their standard floating rate on the rollover date, which is normally the most expensive option, so the goal is simply not to let the date pass without a decision.

This fixed term expiry planner helps you get ahead of the date your New Zealand mortgage's fixed interest rate matures, often called the rollover date, so you are never caught out by an automatic move onto a higher rate. Enter the date your current fixed term ends, your remaining loan balance, and the remaining term left on the loan, and the planner works out exactly how many days you have left to make a decision. Add the rate you are currently paying, a new fixed rate you have been offered by your bank or a competitor, and the bank's standard floating rate that would apply if you took no action at all, and it compares your repayment under all three side by side. You can see straight away how much a refix offer would save you each month compared with your current rate, and just as importantly, how much more you would pay if the term lapsed and you were defaulted onto floating instead. It updates instantly as you type, with no need to press a button. This is useful for anyone with a fixed rate maturing in the next few months who wants a clear, dated picture of what is coming, rather than waiting for a letter from the bank. Figures are estimates based on the rates and dates you enter, so confirm your exact maturity date, current balance and any new offer directly with your bank or mortgage adviser before you act.

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Updated July 2026  Current rates and legislation applied.

Verification & Methodology

Days remaining: Calculated from today's date (your device's clock) to the fixed term end date you enter, counting whole calendar days.
Repayment formula: Standard table (principal and interest) loan amortisation formula, applied to the same remaining balance and remaining term under each of the three rates entered, so the comparison isolates the effect of the rate alone.
Floating (revert) rate: Entered directly by you, since each bank sets and publishes its own standard floating rate, and it changes with the Official Cash Rate and bank funding costs. This is not a fixed government figure.
Rollover practice: Reflects standard New Zealand bank practice of automatically moving an expired fixed-rate loan onto the bank's floating rate absent a new instruction from the borrower, as published in the home loan terms and conditions of the major retail banks.
Last verified: July 2026, against current major-bank home loan terms and conditions and general Reserve Bank of New Zealand guidance on mortgage lending.
Source data: Sourced from a review of published home loan terms and conditions across major New Zealand retail banks (ANZ, ASB, BNZ, Westpac, Kiwibank), which explain what happens on a fixed rate maturity date.

What Happens When a Fixed Mortgage Term Ends in New Zealand

Every fixed-rate home loan in New Zealand has a maturity date, the day the fixed term you originally chose comes to an end. Lenders sometimes call this the rollover date, the refix date, or simply the fixed rate expiry. On that date, your loan needs a new instruction. If you have already arranged a new fixed rate, whether by refixing with your current bank or refinancing to a new one, the loan moves onto that rate and your new repayment begins. If you have not made a decision, the near-universal practice among major New Zealand banks is to automatically move the loan onto the bank's standard floating home loan rate, sometimes called the revert rate. That floating rate is set by the bank and is normally higher than the fixed rates the same bank is advertising at the time, so an unplanned rollover onto floating is rarely the cheapest place to sit, even for a short period.

How This Planner Works

Enter the date your fixed term ends and the planner counts the exact number of days between today and that date, so you have a concrete deadline rather than a vague sense that "it's coming up soon." Then enter your remaining loan balance and the remaining term left on the loan, along with your current rate, a new rate you have been offered, and the bank's floating rate that would apply by default. Using the standard table loan repayment formula, the planner works out your repayment under all three rates on the same balance and term, so the comparison isolates the effect of the rate alone. You can see immediately how much a new fixed offer would change your repayment, and, more importantly, exactly how much extra you would pay each month and each year if the rollover date passed without a decision and the loan defaulted onto floating.

The Floating Rollover Trap

The most common way borrowers end up paying more than they need to is not a bad decision, it is no decision. A fixed term matures, life gets busy, the bank's letter is missed or arrives late, and the loan quietly moves onto the floating rate for weeks or months before anyone notices. Because floating rates are typically set higher than carded fixed rates, this can mean paying hundreds of dollars more a month than either staying with a sensible new fixed rate or refinancing elsewhere. Most banks will get in touch ahead of the maturity date, and many will let you lock in a new fixed rate in advance of the rollover date itself, protecting you from a rate rise in the meantime, though the exact notice period and lock-in window varies from bank to bank. The safest approach is not to rely on the bank's prompt at all: know your own date, and act before it arrives.

Worked Example

Rangi and Aroha have $450,000 remaining on their mortgage, with 22 years left on the loan term. Their current fixed rate of 5.79% matures on 26 November 2026, which as of today is about four months away. Their bank has offered them 4.95% to refix for a new term. At their current 5.79% rate, on the $450,000 balance over 22 years, their repayment works out to $3,018.24 a month. Refixing at the new 4.95% offer brings that down to $2,801.07 a month, a saving of $217.17 a month, or 7.2%, from simply choosing a new rate on the day their old one ends. If they instead let the rollover date pass without choosing, their bank's standard floating rate of 7.45% would apply on the same balance and term, taking their repayment to $3,471.19 a month. That is $670.12 a month, or $8,041.39 a year, more than if they had simply refixed at the offer already sitting in front of them. Locking in the new rate ahead of 26 November avoids that jump entirely, and costs them nothing extra to do.

Refixing, Refinancing and Break Fees

Choosing a new fixed rate with your existing bank right on your rollover date is called refixing, and it is normal, quick and generally free of any extra cost. Moving your loan to a different bank instead is refinancing, which involves a full application, a registered valuation and legal work, and is a bigger step than simply picking a new rate. Either way, if you want to move before your current fixed term has actually matured, rather than waiting for the rollover date, you may owe a break fee to your existing bank if wholesale interest rates have fallen since you fixed. The dedicated Mortgage Break Fee Calculator on this site estimates that cost, and the Mortgage Refinance Calculator works out whether a full refinance clears its own switching costs quickly enough to be worth it.

Who This Planner Is For

This planner suits anyone with a fixed-rate home loan maturing in the coming months who wants a clear, dated view of what happens next, rather than waiting to see what letter turns up. That includes homeowners wanting to diarise their rollover date properly, borrowers who have already received a refix offer and want to see the real dollar effect before accepting it, and anyone who simply wants to understand what "rolling onto floating" would actually cost them if they did nothing. It is a planning tool for the decision itself, not a full loan application or serviceability test.

What This Planner Assumes

• The days remaining figure is calculated from today's date on your own device to the end date you enter.
• All three repayment figures (current, new offer, and floating) are compared on the same remaining loan balance and the same remaining term, so the comparison isolates the rate change alone.
• Repayments follow a standard table (principal and interest) amortisation schedule, not interest-only.
• The floating rate is entered by you, since each bank sets its own rate and it moves with the Official Cash Rate and bank funding costs, not a fixed government figure.
• Results are indicative estimates only and are not financial advice. Confirm your exact maturity date, balance and any offer directly with your bank or a mortgage adviser.

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