Buying guide
The pros and cons of refinancing your mortgage
Why switching to a new mortgage lender is always worth considering
AI summary
Refinancing your mortgage involves switching to a new loan, often with a different lender, to secure a better deal. This is distinct from restructuring or refixing with your current bank.
Key benefits can include securing a lower interest rate, reducing repayments, accessing cash incentives, or releasing home equity for other projects.
However, be aware of potential costs like break fees, lawyer fees, and clawbacks on previous incentives. Experts suggest an annual mortgage review, and a mortgage broker can help simplify the process.
What you'll learn:
What is mortgage refinancing?
Why do people refinance their mortgage?
Refinancing offers more than getting a better deal, it could allow you to free up some cash.
What are the downsides of refinancing your mortgage?
mortgages.co.nz has a clear and concise section entirely dedicated to reviewing or refinancing your mortgage.
Learn moreAuthor
Discover More
They’ve spent more than 40 years making memories at this classic Kiwi bach. Now it’s time to let go
A much-loved 1950s bach on the Wairarapa coast is on the market after 40 years of memories.
Five million views later, the Kiwi Earthship that stunned Grand Designs is up for sale
The Coromandel’s famous Earthship, featured on Grand Designs NZ, is on the market for the first time.
Search
Other articles you might like
