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 current one. This can help you secure a better interest rate, access cash incentives, or release home equity for other projects.
It differs from restructuring (changing your loan's setup with your current lender) or refixing (choosing a new fixed term). While beneficial, potential costs include break fees, incentive clawbacks, and legal fees. 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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