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Should I remortgage in New Zealand?

Remortgaging your home is a topic that comes up in conversation often.

Usually, we’ll get more calls about this as interest rates get lower, and / or house prices go up.  

 

The real answer to this question is BORING……

you need to talk to a Mortgage Broker / Mortgage Advisor about this, before you do anything – so get in touch with us HERE.

 

However – the purpose of this short article is to give you some information and websites, so you can learn a bit more about the idea of remortgaging, and generally saving money and time on your mortgage.

 

Here are some sites – resources:

 

Sorted NZ Website:  https://sorted.org.nz/guides/home-buying/how-to-refinance-your-mortgage/

MoneyHub: https://www.moneyhub.co.nz/remortgaging.html

Consumer NZ article:  https://www.consumer.org.nz/articles/mortgages-should-you-fix-or-float

 

Generally, you’ll need to have a conversation with your broker / advisor around the following topics:

  • Household budget
  • Current interest rates
  • Future interest rates
  • Home value
  • Current lifestyle and expenses
  • Time left on current mortgage
  • Exit fees / break fees
  • Legal fees

 

This may well make sense for you, or it might not.

There really is no better idea than to reach out, and talk to your Mortgage Broker / Advisor.

Some more articles / advice about refinancing / restructuring:

BNZ articlehttps://www.bnz.co.nz/personal-banking/life-moments/refinancing-your-mortgage

Mortgages NZ Websitehttps://mortgages.co.nz/when-to-refinance-your-mortgage/

Homelegal – legal website: https://homelegal.co.nz/refinancing-your-home-loan/

 

 

 

 

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