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 means getting a new loan, often with a different lender, to replace your current one. This is distinct from restructuring (changing your loan setup) or refixing (choosing a new fixed rate).
Kiwis typically refinance to secure better interest rates, lower repayments, get cash incentives, or release home equity for other projects.
Potential downsides include costs like break fees for fixed-rate loans, lawyer fees, and incentive clawbacks. A mortgage broker can help you navigate 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
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