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 current one. This differs from restructuring (changing your setup with the same bank).
Kiwis often refinance to secure a lower interest rate, reduce repayments, get a cash incentive, or release home equity for other projects. Be aware of potential costs like break fees on fixed 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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