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 pay off your existing one. It differs from restructuring or refixing with your current bank.
Kiwis often refinance to get a better deal, such as a lower interest rate, a cash incentive, or to release home equity for other projects.
However, be aware of potential costs like break fees, lawyer fees, and incentive clawbacks. A mortgage broker can help you compare lenders and 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
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