As the New Zealand economy reboots post-COVID lockdown, banks have slashed interest rates to help buyers. Currently, interest rates are the lowest they have been for over ten years.
So is it a good time to refinance your home loan? Absolutely, but only if you do it the right way.
The low rates available provide the perfect opportunity to lock in a fixed-rate long-term. Rather than going directly to your bank, refinancing with the help of a mortgage broker could help pay off your loan faster. A broker can do what the bank won’t, tailoring your loan structure to your unique situation.
Here are some recent rates we’ve secured for clients:
Two-years at 2.69%
Three-years at 2.99%
Five-years at 3.19%
Be mindful that refinancing can incur costs. We can work with your current bank or an alternative lender to negotiate a competitive new rate for you, and best of all, you won’t have to lift a finger.
While we’re home loan and insurance experts, our blog posts are for general information purposes only and are not intended as financial advice. If at any stage you need personalised advice, get in touch on 0800 346 765, or email firstname.lastname@example.org.