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 existing one. This is different from restructuring or refixing with your current bank.
The main goal is to secure a better deal, which could mean a lower interest rate, smaller repayments, a cash incentive, or releasing home equity.
However, be aware of potential costs like break fees on fixed-rate loans, lawyer fees, and repaying previous incentives. An annual mortgage review is 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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