Break and Re-fix question for the brokers and bankers

[Bluekiwi]

We know you can break a fixed loan today, pay the break fee, and refix again.

But can you re-fix say 50 or 60 days out, but before your term loan expires, and pay whatever bank break fee the bank calculates at that time ?

[spaceman]

If the bank likes you, you can do pretty much whatever you want....if you're not one of their fav's then you have to do as you're told.

That's been my experience anyway.....once they loved me …. now not so much

Cheers
spaceman

[Bluekiwi]

Did they bring you back to earth in your latest negotiations Spaceman ?

[Bob Kane]

But can you re-fix say 50 or 60 days out, but before your term loan expires, and pay whatever bank break fee the bank calculates at that time ?

That's sort of what I do with ASB all the time.
They send me a reminder 2 months in advance.
When I'm ready I fix for the cheapest rate - always 12 months, latest one was 3.39% I think.
No break fees involved.
When the loan expires, it rolls onto what I've picked.
Is that what you wanted to do? Lock in a low rate before the expiry date?

[Bluekiwi]

No what I am saying, is for a fixed rate that say ends in May 2020.
To look forward the 2 months to Jan 2020, and get a rate locked in for Jan 2020, and then break in Jan when it comes up.
And take the break fee cost of breaking from Jan to May.