Refixing

Refixing your mortgage is an important decision that many homeowners in New Zealand make to manage their mortgage debt. Refixing refers to the process of choosing a new fixed-term for your mortgage loan. When your current fixed-term is coming to an end, you can refix your mortgage by choosing a new term, typically ranging from 1 to 5 years. I can help you with this process

There are several reasons why you may want to refix your mortgage. Firstly, it can provide you with certainty and stability in your mortgage payments for a fixed period of time. This can be helpful for budgeting and financial planning. Secondly, it can allow you to take advantage of lower interest rates if they are available. Refixing at a lower interest rate can help you save money on your mortgage repayments. Finally, it can provide you with the opportunity to reassess your mortgage goals and make any necessary changes to your mortgage structure to better suit your needs.

Refinance

Refinancing your mortgage is another important decision that homeowners in New Zealand may consider to manage their mortgage debt. Refinancing refers to the process of replacing your current mortgage with a new one, typically with a different lender. This process can be done to take advantage of lower interest rates, to change the type of mortgage you have, or to consolidate debt.

There are several reasons why you may want to refinance your mortgage in New Zealand. Firstly, it can provide you with the opportunity to take advantage of lower interest rates. Refinancing at a lower interest rate can help you save money on your mortgage repayments or switching to a different lender gives you the opportunity to take advantage of a new cash contribution..

Secondly, it can allow you to change the type of mortgage you have to better suit your needs. For example, you may want to switch from a variable rate to a fixed rate mortgage for greater stability in your mortgage payments. Finally, refinancing can also be used as a tool to consolidate debt, allowing you to pay off high-interest debt such as credit cards or personal loans with the lower interest rate of your mortgage. However, it is important to carefully consider the costs and benefits of refinancing, including any fees associated with breaking your current mortgage contract, before making a decision.