Kiwis often opt for a fixed rate over a period of time, as this provides comfort knowing how much their mortgage will cost each month.
But did you know you could be saving $1,000’s by refixing or refinancing your home loan?
Don’t fall into the comfortable trap of setting and forgetting your home loan rate. Quite often you can save quite a bit of money when you use a Mortgage Broker to refix or refinance your home loan.
Most banks offer enticing incentives to get people to refinance their mortgage with another provider.
The incentive is often enough to cover the cost of breaking your loan, as well as any legal fees. And the incentive is usually large enough to leave you with some cash in hand.
This means that we might not only get you a better rate, but cash back as well.
Banks will try to determine your new rate once your fixed rate comes to an end. We can help negotiate a much better fixed rate on your behalf. Getting you the best deal possible.
A fixed rate and fixed monthly repayment offers you a sense of security. But there are disadvantages.
Fixed rate home loans are often less flexible than variable loan rates. This means that you might be restricted from making extra repayments and if the interest rate drops, you’ll miss out on potential savings.
There’s also an option to split your home loan. This allows a portion of your loan to be paid at a fixed rate, and the rest paid at a variable rate.
Splitting your loan allows you to know roughly how much you need to pay each month, as well making financial saves if the interest rate drops. If by chance interest rates rise, only a portion of your home loan is affected.
If you’re not sure which option is best for you, get in touch with us.
We’ve got 19 years of expertise in the field. We know how to help you, whatever your situation may be.
It costs nothing to have us look to see if there are better rates out there for you.
You’ve got nothing to lose and everything to gain. You could save thousands. Let’s get together and work out your options.