Loan to Bank Refinance
It helps you get a lower mortgage rate, while also offering the opportunity to receive cash back from the bank and restructure your loan.
We will compare loan options from several major New Zealand banks to help you find the most suitable mortgage solution.
1. Try to get a lower mortgage rate.
When your fixed-rate mortgage expires, it's the perfect time to re-compare rates from various banks. Different banks frequently change their lending policies and interest rates, and by reapplying for a loan, many customers can obtain a more competitive rate, thereby reducing monthly payments and long-term interest expenses. We compare rates from major banks such as ANZ, ASB, BNZ, and Westpac, and assist in applying for their special rates to lower monthly payments and reduce long-term interest costs.
2. Try to get a cashback from the bank.
In New Zealand, when transferring a mortgage to a new bank, the bank usually offers cashback as a benefit. Generally, the cashback is a percentage of the loan amount, with the specific amount depending on the loan size and the bank's policy. We assist clients in securing cashback from banks to offset the costs incurred during the transfer and to obtain more competitive loan terms.
3. Optimize loan structure and enhance funding flexibility
Refinance is not just about switching banks; more importantly, it allows for the restructuring of your loan portfolio. Through proper loan arrangements, you can improve financial flexibility and better plan for your future finances. For example, you can split loans with different fixed maturities.
Set up an Offset Account or Revolving Credit to optimize cash flow management and prepare for future investments or home purchases.
You need to understand the current loan situation before applying.
If your current loan is still within its fixed-rate term and you transfer it to another bank early, the original bank may charge a break fee. The specific amount depends on the loan amount, the remaining fixed term, and the current market interest rate.
Cash rebates usually come with loan term requirements.
Bank cashback offers typically come with loan term requirements, such as maintaining the loan with the same bank for a certain period. If you switch banks again within that timeframe, you may need to return a portion of the cashback. Before deciding whether to switch banks for your mortgage, we can assess your current loan situation, prepayment fees, and different bank loan options to help you make the most suitable choice.
How to apply
Call us to speak with one of our professional financial advisors.
Monday to Friday, 9:00 AM to 5:00 PM
Saturdays and Sundays, 10:00 AM to 4:00 PM
021 0699 878
Meet with a loan advisor, and our loan manager can visit you at your convenience.