Refixing vs Refinancing

Just like banks change interest rates, your financial situation will change too. We look to find an opportunity in that time of change to shape your mortgage and save you money.

If interest rates have dropped and you are near the end of your fixed term you can choose to refix your loan at a new rate.

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What does that mean?

Refixing your loan means you stay with the same lender and make an agreement not to change the loan for a period of time. In return the bank will fix the interest rate and repayments, usually at a much lower level.

What about refinancing?

  • Freeing up extra money for a renovation or holiday
  • Decreasing your weekly mortgage repayments
  • Breaking your mortgage to get a lower interest rate
  • Paying your mortgage off faster
  • Planning your retirement
  • Purchasing an investment property

When you refinance you end your mortgage with the current lender and replace it with a loan at a different lender. This means you have more flexibility to change the terms and repayments of the mortgage as well as the interest rate.

When working with your adviser to decide what is the best option, there are some things to consider such as, ‘break fees’, repaying a ‘cash back’ and the extra legal expenses. We will also consider whether your plan is to become debt free faster.

It’s important to remember that reviewing your mortgage is not always just about the money on a weekly basis! Shaping your mortgage to best suit your needs and circumstances might include:

A little can go a long way. A small change in your interest rates or repayment could save you thousands of dollars.

While all of this may seem quite daunting, we are here to help guide you through the process and figure out what is the best choice out of all your options.

In the past, our experts at Nest have helped thousands of client’s refinance or restructure their mortgage. Many of these clients are now on the path to using existing equity to purchase rental properties and other forms getting their money to work for them. And we want to add you to this list!

If you have any questions, or if you feel that we can help, please give us a call so we can help get you on track to meet your goals.


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