What is refixing?
Rather than permanently settling for the mortgage rates offered to you by your lender, you can “refix” these rates periodically to take into account fluctuations in the market. This can yield significant benefits, though your lender probably won’t tell you about it or give you much help when you try to do it!
It’s a fairly time-consuming task and requires a lot of familiarity with the market to pull off successfully. For this reason, it’s best to seek the help of a trusted advisor if you’re thinking about refixing your mortgage rates.
What about refinancing?
The mortgage terms you signed up for ten years ago aren’t always appropriate to your current situation.
Major life events such as retirement or the birth of a new child can leave you in a tricky position when it comes to your mortgage. For that reason, it’s sometimes necessary to refinance your mortgage and renegotiate it, sometimes with an entirely new lender. By doing so, you can secure terms that are more favourable to your new circumstances.
To make sure this process yields benefits for you rather than causing additional stress, you should ask for expert advice.
The team at One50 has a lot of expertise in mortgage refixing and refinancing, and we also have strong connections with New Zealand lenders, allowing us to negotiate better terms for our clients.
If you’re interested in a free consultation, contact us today!