DATE: 22/06/2022
CATEGORY: Awesome news, Blog, Interest rates, Mortgages, NZ Economy

is it time to refix or refinance your mortgage?

Has time lapsed since you last decided to fix the interest rate on your home loan, or is your mortgage up for renewal? Are you wondering about switching banks to get a better deal?

There’s no need to stress… With the right advice, we can make refixing or refinancing your mortgage a safe and easy process.

There’s a lot of change going on in the market, home buyers and owners looking to refinance have some tough questions to consider: Do I fix? Do I float? Do I wait a bit more? Do I risk it and just take a punt?

Knowing whether to fix or float is not a perfect science. Currently, there’s no better time to shop the banks and get an awesome home. But buyer beware—there’s heaps at stake and a lot to consider before making your decision.

If your fixed-rate period is ending soon you may be faced with the dilemma of what to do next with your mortgage.

As with all big-ticket decisions, it’s nice to have a choice. You can opt for the DIY approach and wear all the risk, or engage a professional and sit back with peace of mind knowing you’ve got someone doing all the running around and negotiating the best possible deal.

Doing it yourself can be fun, especially if you enjoy haggling with the banks. But it can also be extremely time-consuming and challenging to get the best results.

If you could engage an experienced professional to the job, with no hooks, no snags, no catches—for free, then why wouldn’t you? It’s an absolute no-brainer.

You could use a tick box approach, log into your current lender’s banking portal and just choose a rate. Or you could work with professionals like us to help tailor your mortgage to your preference for cost certainty while making sure you’re not paying any more than you have to. It’s what Awesome Mortgages are all about, it’s our passion, and purpose, and why we love to help.

Deciding what next to do with your mortgage isn’t just about the rate. It’s a great time to assess whether you have the right set-up and optimal mortgage structure.

You may also want to consider paying off a lump sum before locking in the interest rate. Once your interest rate is fixed there’s less wriggle room or scope to make changes without incurring a penalty.

Plus banks are continually enhancing products. There may be benefits you may not be aware of that could significantly improve your financial situation.

As mortgage experts, it’s our job to be informed. Rest assured we are always up to play with the latest developments.

If you fix your interest rate with us, switch banks, or ask us to negotiate with your current home-loan lender, once you’re an awesome client you’ll benefit from our ongoing expertise. We have a special knack and proven nouse for predicting interest rate movements with our trusty crystal ball.

fix now, never, or continue to wait… decisions, decisions!

Some people fix too soon. It’s common for banks to send out letters or emails reminding clients that their interest rates are up for renewal 60 days prior to the interest rate expiry. Over the course of two months, a lot can happen.

Rates might drop within this time. Or an interest rate hike may be looming on the horizon. Both scenarios make it even more prudent to get the right advice. We’ll help you weigh up the ‘hassle-to-worth ratio.’ When you analyse the benefit of things like time investment against actual savings, in some cases the savings can be considerable, in others, it simply may not be worth it. An impartial Awesome Mortgages advisor will help you figure it out.

Plus, we’ll proactively scan the market and be in touch next time you have to make an important decision.

Switching banks or negotiating directly isn’t for everyone. Sometimes your best deal is to stay with your existing bank. We’ll help you decide.

are home renovations on the horizon?

If it’s time to refix your interest rate or refinance your mortgage it may be a good time to free up some equity.

Kiwi’s don’t just love their homes, we also love the opportunity to improve, extend, redecorate or redesign our castles. In fact, the freedom to do up your home or investment property in the way you choose is one of the awesome benefits of property ownership.

Do you fear missing out on the best rate possible, or making the wrong decision?

Let us help you get the home loan you need, so you can kick back and live the life you want.

Did you enjoy this article? You might like:

to fix or float? 5 questions to ask before you decide

stress less during the home renovation process

refixing your mortgage – switching banks might get you the best deal

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Posted in Awesome news, Blog, Interest rates, Mortgages, NZ Economy

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