Refinancing

MAKE YOUR MORTGAGE WORK HARDER

There are many reasons to consider debt consolidation or refinancing your mortgage, and it's always a good idea to have regular assessments with an expert as your life and circumstances change.

From our experience some of the main reasons people want to refinance include:

  • Needing a bigger home as your family grows

  • Renovating or adding value to your existing home such as with a new kitchen or bathroom

  • Building a new home

  • Getting a better interest and deal from another lender.

Using your home's equity to:

  • Buy a business or an investment property

  • Help one of your children buy their first home

  • Maybe even do something fun like go on a world trip.

Whatever the reason, if your circumstances change and you need to make use of the value in your existing home, Switch Home Loans can help.

TO FIX OR NOT TO FIX?

THAT IS THE QUESTION

No one has a crystal ball for interest rates so it can be difficult to make a choice between fixing or floating your mortgage.

Some will prefer the flexibility of a floating rate, meaning you can make additional payments to your loan and reduce it quicker.  Others will want the comfort of knowing exactly how much is being paid off each month by fixing.

 

One good option is a mixed approach, or having a variety of mortgages at different rates and terms, and spread over fixed rates and floating.  This can provide the best of both worlds by hedging.

 

This means you will still have surety about how much you pay each month, except for the floating portion and even if interest rates rise it will only affect part of your loan.

 

Our experts can help you choose the best option for your situation and find the right lender.

REVOLVING CREDIT MORTGAGE

No one has a crystal ball for interest rates so it can be difficult to make a choice between fixing or floating your mortgage.

Some will prefer the flexibility of a floating rate, meaning you can make additional payments to your loan and reduce it quicker.  Others will want the comfort of knowing exactly how much is being paid off each month by fixing.

 

One good option is a mixed approach, or having a variety of mortgages at different rates and terms, and spread over fixed rates and floating.  This can provide the best of both worlds by hedging.

 

This means you will still have surety about how much you pay each month, except for the floating portion and even if interest rates rise it will only affect part of your loan.

 

Our experts can help you choose the best option for your situation and find the right lender.

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Visit us at:    Level 2, BOXed Quarter, 270 St Asaph Street, Christchurch

Mail us at:    P O Box 454, Christchurch, 8140

Email us at:  info@switchhomeloans.co.nz

Call us at:     03 345 8880

©2020 by Switch Mortgages Limited trading as Switch Home Loans