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 new lender, to pay off your old one. This differs from restructuring (changing your setup with the same lender) or refixing (choosing a new fixed term).
Kiwis often refinance to get a lower interest rate, reduce repayments, or access cash incentives and home equity. Be aware of potential costs like break fees, incentive clawbacks, and legal fees. An annual mortgage review is highly recommended.
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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