{"id":550,"date":"2020-07-12T21:17:10","date_gmt":"2020-07-12T21:17:10","guid":{"rendered":"https:\/\/www.financematters.co.nz\/?page_id=550"},"modified":"2020-08-26T23:10:22","modified_gmt":"2020-08-26T23:10:22","slug":"refinance-your-mortgage","status":"publish","type":"page","link":"https:\/\/www.financematters.co.nz\/mortgage\/refinance-your-mortgage\/","title":{"rendered":"Refinance your mortgage"},"content":{"rendered":"\t\t
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Looking for a better deal on your existing home loan?<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Refinance your mortgage<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Refinancing your home loan from one bank to another can be tricky. Calculating the cost of refinancing is very important and the thumb rule is that you should refinance only if it is beneficial otherwise you shouldn\u2019t.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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You can refinance your mortgage for one or more reasons:<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\u2013 To secure better interest rate and cash back offer
\u2013 To consolidate your high-interest bearing debts
\u2013 To borrow funds for renovation or holidays or other plans
\u2013 To move from minoo bank or private lender to mainstream bank
\u2013 To diversify your portfolio in multiple banks
\u2013 To give a fresh start to your mortgage<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Best time to refinance:<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Ideally, the best time to refinance your mortgage is when:
\u2013 Your existing home loan is due for re-fixing and you don\u2019t have to return cash back to your existing bank; or
\u2013 Your existing home loan is not due for refixing but you are paying high-interest rate and since the market has changed, you want to take benefit of lower interest rates combined with new cash back from the new bank; or
\u2013 Any other reason has motivated you to move across to another bank<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Cost of refinancing:<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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We will help you in calculating the cost of refinancing and doing a cost-benefit analysis of this exercise. Typically, following costs are involved in refinancing a home loan:
\u2013 Fixed loan term breakage cost
\u2013 Cashback return
\u2013 Solicitor cost to move your mortgage
\u2013 Registered valuer\u2019s report cost
\u2013 Property discharge cost
\u2013 Any other cost depending on the type of property or new bank\u2019s requirements<\/p>

Use our \u201cRefinance Calculator\u201d to determine whether it is beneficial for you to move to a new bank or not.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Why choose us:\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Mortgage restructuring<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Maybe last time you missed the chance of getting your home loan designed by a professional mortgage adviser and did not obtain personalised financial advice. When we help you move from one bank to the other, we help you to redesign your overall mortgage portfolio to best suit your financial goals and priorities. We can also work closely with your solicitor and accountant if you are also planning to change property ownership and loan structure for tax planning purposes at the same time.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Mortgage freedom planning<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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We can prepare \u201cMortgage Freedom Plan\u201d for you so that you can be mortgage free as soon as possible according to your capacity.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Tie-up with all major banks<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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We have the tie-up with all major banks in New Zealand. This means that we can approach multiple banks at the same time to bring out best interest rate and cash back available in the market for you at that period.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Choose the best option<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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We can compare deals available through multiple banks to arrive at the best-suited option for you. It will give you confidence and will allow you to take an informed decision.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Smooth transition<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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We can keep you updated with the status so that you can do the right step at the right time for smooth transition. We also work closely with your solicitor, accountant, valuer or any other person involved to make sure that you can make a stress free move to the new bank.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Documents required to refinance your mortgage:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Generally, following documents are required to process your refinance application:
\u2013 Understanding any break cost and cash back return involved in the transaction
\u2013 Latest 3 payslips of each applicant
\u2013 Latest 3 months salary and transactional bank account statement
\u2013 Latest 3 months existing home loan statement
\u2013 Latest 3 months statement of all debts being consolidated
\u2013 Passport of each applicant<\/p>

In case, any of the applicants is self-employed, the bank will require last 2 years of business financial statements to determine the level of earnings for that applicant.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Get in touch with us:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Contact us on 0800 700 600 and book appointment to have a no-obligation meeting to assess your overall position and get on to the next steps.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Looking for a better deal on your existing home loan? Refinance your mortgage Refinancing your home loan from one bank to another can be tricky. Calculating the cost of refinancing is very important and the thumb rule is that you should refinance only if it is beneficial otherwise you shouldn\u2019t. You can refinance your mortgage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":9,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"yoast_head":"\nRefinance your mortgage - Finance Matters - Mortgage and Insurance Experts<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.financematters.co.nz\/mortgage\/refinance-your-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Refinance your mortgage - Finance Matters - Mortgage and Insurance Experts\" \/>\n<meta property=\"og:description\" content=\"Looking for a better deal on your existing home loan? 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