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Refinancing Your Mortgage
We believe the path to financial freedom shouldn’t be a secret. If it feels like all your money is getting sucked up by mortgage repayments, we’ll be able to tell you where you can refinance or restructure your mortgage to get a better deal. We’ll also check your current mortgage and make sure that your repayments are helping you achieve your financial goals.
What is the difference between refinancing, refixing and restructuring my mortgage?
Refinancing your mortgage (aka remortgaging) is when you switch your home loan to a different bank. This decision is usually based on what another bank can offer you i.e. a better rate locked in for a longer-term, the ability to borrow more against your property etc. You can check out how much you could save by switching banks by using our mortgage repayments calculator.
Refixing your mortgage means you stay with the current bank lender your mortgage is with and make an agreement not to change the loan for a fixed amount of time. In return, the bank will fix the interest rate and repayments at a lower level.
Restructuring your mortgage can happen when you’re refinancing or when refixing your loans. First, we’ll review your current mortgage structure, and then suggest a new structure of the loans to make sure you’re paying the minimum interest on the loan and, in most cases, paying off the loan faster than the default number of years given by the bank. There are many different types of loan structures to consider. We can assist you in deciding what will be the best fit tailored to your personal circumstances.
Read about 04 Reasons to Refinance Your Mortgage.
The Process of Refinancing
01
Set a Clear Goal or Outcome
Figure out what you’re wanting to change about your mortgage i.e. a lower interest rate, a shorter loan term etc.
02
Do Your Research
Check out the current terms and conditions of your loan and break fees (if applicable) to see whether refinancing is a viable option
Keep in mind, the savings you’ll get from implementing your Fast Track Mortgage Plan can easily be 100s of thousands more than the cost of your break fees, so don’t let break fees stop you.
03
Book a Free 15 Minute Mortgage Chat with Futurebound
We will talk through your reasons for refinancing, your financial situation etc. to ensure we’re on the same page to begin to set a narrative with the banks.
04
Negotiations and Confirmation
We’ll compare the rates and fees of several different lenders to ensure you get the very best outcome and to confirm whether the bank can meet your expectations.
05
Submission
Once confirmed, the paperwork to switch banks will be filed and submitted. An appraisal of your home will also be completed at this stage.
06
Final Stages
Your new home loan will be finalised and your new mortgage repayments will be set up and ready to go.
Keen to get Started?
We can help you decide whether refinancing is a viable option for you and your family. We will talk you through the different lender options and their rates to ensure you have a variety of options to choose from that are tailored to your unique situation.
Benefits of Using Futurebound
Buying a home is the biggest purchase most Kiwis will ever have. The right advice and guidance can mean the difference of $100,000s.
We specialise in mortgages for wealth-building
Investment properties can be a great way to build your wealth and receive a passive income. Our team can show you how to use the equity in your current home to buy an investment property without using a cash deposit and how to structure your mortgages to ensure your get the best return on investment.
High approval rate
We are committed to getting you approved for the home loan you need. Obstacles don’t intimidate us!
Access to our Fast Track Your Mortgage Plan Lite*
All new lending over $300,000 receives access to our Fast Track Your Mortgage Plan Lite. This guide will help you pay off your mortgage up to three times as fast, saving you tens of thousands of dollars every year in interest costs.
Stay on track towards financial freedom
Each year you’ll receive a comprehensive review of your mortgage including equity position, ability to buy your first or next investment property, insurance review and an update on your mortgage debt reduction plan.
Book a mortgage chat
You will get a review of your situation and advice
regarding how to meet your financial goals going forward
“Don’t leave your financial freedom to chance, Jeff is incredibly knowledgeable and passionate about helping build a better future. Highly recommend Jeff and the team if you have a property and are looking to increase your wealth by looking at buying an investment property. With Jeff’s help it is easier than you may think!”
Kayla
“He arranged loan approvals from multiple banks with best interest rateJeff was very helpful and supportive to us in buying our first home. He arranged loan approvals from multiple banks with best interest rates. Very patiently answered all my stupid questions and advised us on bank loan repayments and finance planning. This actually helped us a lot to get through the stressful times. I would definitely recommend to anyone wants to get into the market.”
Ram
“Jeff is a really nice and considerate guy who really has your best interests at heart. He’s helped shave off tens of thousands of dollars of interest repayments, as well as helped me understand and implement ways to cut my mortgage repayment timeframe by about two-thirds. Thanks, Jeff and the team!”
Rawiri