Refinancing

Usually, individuals opt for refinancing when their personal situations or the prevailing interest rates get changed. Kiwis usually choose refinancing in order to consolidate their debts, renovate, invest or switch from fixed to floating interest rates, or the other way round. While it's not an easy task, we at Top Mortgages, help you understand its long term benefits against the actual costs involved. We assist you with all the calculations after taking into account all the costs of mortgage refinancing, so that you can assess if the refinancing is in your favor or not!

How will refinancing benefit you?

Primarily, it can help you save more money! This is because lower interest rates will lead to lower monthly repayments.

Moreover, we can negotiate to turn the repayment terms in your favor- be it lower interest rates as mentioned before or the decreased tenure, which will let you offset your loan and become debt-free sooner than before!

To get the refinancing service or continue with the existing plan?

We understand the mindset of Kiwis! With a fixed stream of monthly repayments we have a great sense of comfort and peace but it should also be acknowledged that with refinancing we have a greater scope of increasing the savings!

You can miss on incremental savings if the interest rate falls. Moreover, fixed rate loans are not flexible like the variable rate loans. If you still are not comfortable in switching towards 100% floating rates, you can always have a blend of both. We at Top Mortgages will help you master this splitting!

This will not only give you a rough idea on how much you need to pay on a monthly basis but will also let you enjoy the financial savings in case the rates fall. On the contrary, if the rates rise you are still secure as only part of your loan is not fixed!