If you’re on a high-interest mortgage, you might be spending more than you need to. The good news? Changes in the housing market could help you save. By reviewing your mortgage and checking your property’s value, you might lower your interest rate and save money. Here’s how it works and why now is a great time to act.

Why Review Your Mortgage Now?

Interest rates in New Zealand have changed a lot in recent months. If you got your mortgage when rates were higher, you might now qualify for better terms. Here’s why:

  1. Upcoming OCR Review on 19th Feb: Economists are predicting a potential drop in the Official Cash Rate (OCR), which could lead to lower mortgage rates. Reviewing your mortgage now ensures you’re prepared to take advantage of the change
  2. Property Values Are Changing: Many areas have seen property values go up, which might mean your loan-to-value ratio (LVR) is better. A lower LVR can get you better rates.
  3. Stable Market: The Reserve Bank of New Zealand (RBNZ) has slowed down interest rate hikes, and banks are now offering better refinancing deals.

Save Money: Even a small drop in your interest rate can save you thousands over time.

Benefits of Reviewing Your Mortgage

  • Lower Interest Rates: Pay less each month and save money over the life of your loan.
  • Better Loan Terms: Get flexible payment options, lower fees, or fixed-rate stability.
  • Access Equity: If your property’s value has gone up, you could use the extra equity for renovations, investments, or other goals.

When to Review Your Mortgage

  • Your current interest rate is much higher than today’s rates.
  • You’ve made extra payments and lowered your mortgage balance.
  • Your property’s value has increased.
  • Your income has gone up or your debts have decreased.
  • Your fixed-term loan is about to expire.
  • You’re thinking about combining other debts into your mortgage.
  • You want to change your loan type, like moving from fixed to floating.

How We Can Help

As a mortgage adviser, I can help you save money and make your mortgage work for you. I’ll:

  • Find ways to lower your interest rate.
  • Guide you through the refinancing process.
  • Make sure your mortgage fits your financial goals.

Don’t let high-interest rates hold you back. Let’s look at your options and see how much you could save.

Contact Us Today Let’s review your mortgage with no obligation. Together, we can find savings and help you take control of your finances

 

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