One Click Fix?
Why One Tap Could Cost You Thousands
Refixing your mortgage in your bank’s app feels harmless. It’s quick, simple, and ticks an important job off your list. But that one tap can also close the door on better options. Without advice, you risk locking into a deal that doesn’t fit your situation, potentially paying more than you need to.
When it comes to one of your biggest financial commitments, convenience should never replace good advice.
Why convenience can cost you
Banking apps are designed to make things easy. What they don’t do is consider your bigger financial picture. They can’t see how your income has changed, whether you’re planning a renovation, or if splitting your loan could give you more flexibility.
An adviser looks at the whole picture before recommending a structure that supports your goals. The app only offers what’s in front of you.
A quick check can confirm you’re on the right track or highlight better options you didn’t know existed.
The value of advice
The difference between tapping “confirm” and talking to an adviser isn’t just about chasing a lower rate it’s about strategy.
A mortgage adviser asks questions that reveal the right fit for your life, not just today’s numbers:
- Is your cash flow tighter than it was last year?
- Do you have upcoming expenses that may need flexibility?
- Would staggering your fixed terms give you peace of mind if rates change?
These conversations lead to smarter structures that protect your future, not just today’s repayment.
What you stand to lose
Choosing the app-only route isn’t just about paying a few dollars more each fortnight; it can mean locking yourself into a structure that no longer suits your circumstances, missing out on the flexibility that reduces stress, paying thousands more over the life of your loan, and losing the protection of documented advice the safeguard that gives you clarity and confidence in your decision.
A smarter approach
By all means, use your bank’s app but do it with confidence. Before you click confirm, send the offer to your adviser or pick up the phone. A quick check can confirm you’re on the right track or highlight better options you didn’t know existed.
It takes minutes and could protect your money and peace of mind for years to come.
Whether you’re about to click a button in an app or re-setting your broader financial plan, how you structure your mortgage matters just as much as the rate you choose.
Building on strategy
This is just one part of the bigger picture. As my colleague Sarah Maclennan explains in her article Refixing a Mortgage Isn’t Just About the Rate, It’s About Strategy, how you structure your mortgage matters just as much as the rate you choose. Together, these perspectives show why advice counts at every stage, whether you’re about to click a button in an app or re-setting your broader financial plan.
Final thought
One click is convenient. But convenience without advice can come at a cost. Protect your mortgage, your money, and your future make advice part of every refix decision.
A refix is more than a transaction, it is an opportunity to protect your financial future. Our advisers tailor strategies to ensure your mortgage fits your circumstances and long-term goals. Meet with us before you commit to your next term.
Frequently Asked Questions
How much time does it take to get advice before I refix?
Usually less than you think.
Let your adviser know about your banks online offer and a review can be done with a quick call. A few minutes upfront can give you confidence you’ve made the right decision.
Isn’t refixing in my banking app the same as doing it through an adviser?
Not quite. The app will show you the rates available, but it won’t consider whether those rates or terms fit your personal situation. An adviser looks at your goals, income, and future plans before recommending how to set things up.
Can using the app actually cost me money?
Yes. If you lock in a structure that doesn’t suit your cash flow or goals, you could end up paying thousands more over the life of your loan. The app doesn’t warn you about these risks, advice helps uncover them before you commit.
Do I have to switch banks to get better advice?
No. In most cases, an adviser can help you review and restructure your loan with your existing lender. It’s not about moving banks, it’s about making sure your mortgage setup works for you
When should I contact my adviser about a refix?
Ideally, start the conversation a couple of months before your fixed term ends. That way you won’t feel rushed, and you’ll have time to explore different structures if needed.
This article is for general information purposes only and does not constitute personalised financial advice. The content is based on information current at the time of writing and may be subject to change.
Lifetime Group Limited is a licensed Financial Advice Provider. For advice specific to your situation, please speak with a licensed financial adviser. You can view our Disclosure Statement here.
All investments involve risk and are not guaranteed. Any examples or projections are for illustration only and should not be relied on as advice.
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