REFINANCE & INVESTMENT
IS MORTGAGE REFINANCING THE RIGHT MOVE?
Restructure, refix, or refinance?
- When you choose to RESTRUCTURE your mortgage, you may shift from a fixed to a floating rate, or you may offset your mortgage payments.
- If your current interest rate term is drawing to a close, you may REFIX your mortgage; you would lock in a new interest rate for a new time frame.
- REFINANCING your mortgage is switching your mortgage from your current bank to an alternate bank.
ADVANTAGES OF REFINANCING YOUR MORTGAGE
- If you want to upscale your mortgage to a larger amount to finance a renovation or remodel, you could refinance your mortgage with a bank that is more amenable to your goals.
- You may refinance to take advantage of a mortgage structure that works better for your shifting needs.
- A local bank may be offering an excellent interest rate package if you switch.
WHEN SHOULD I REFINANCE?
If you are on a fixed-term rate and it’s drawing to a close, this is when you are best placed to look around for a deal that may be better than your current deal.
It’s important to be aware that if you decide to refinance outside of a natural breakpoint there are likely to be penalties applied; in essence, you will be paying off your current mortgage early – so early payment fees may also apply.
If you wanted to purchase another property as an investment or you were awarded a significant pay rise, you may also consider refinancing.
If a particularly enticing offer is being advertised, it may be tempting to jump, but be sure to check the small print; if something looks too good to be true, it probably is.
REFINANCING WITH THE EXPERTS
FIND OUT WHERE YOU STAND
- When you engage Spratt Financial’s trusted mortgage refinancing team, you will gain the advantage of access to expert advice and insider knowledge.
- Our advisors will be able to pinpoint the best move and help you decide whether refinancing is actually your best option or if a refix or restructure is going to put you in a better position.
- Getting qualified refinance and investment advice will ensure you uncover any hidden costs associated with refinancing. You may be subject to clawbacks of rewards you accepted on your current mortgage, valuation fees on a new property purchase, legal fees, or penalties built into your current agreement.
- When you take your refinancing and investment questions to our trusted advisors at Cambridge Partners, we do the math. Did you know that walking into a lower interest deal that has high associated costs may make refinancing the wrong move for you?
We know where the pitfalls lie, so it makes sense to take our expert advice before you pull the switch.
SPRATT INVESTMENT SERVICES HAS PARTNERED WITH CAMBRIDGE PARTNERS.
We recognised the value of partnering with an established firm with deep experience and a strong track record to meet our aspirations. We sought a partner who aligned with our commitment to our clients of providing independent advice and solutions. We are delighted to have found this in Cambridge Partners Limited, with whom we have had a strong relationship for over two decades and who have provided strategic advice to us regularly.
At the heart of Cambridge Partners’ investment philosophy is making every decision in their clients’ best interests and working with clients to develop an investment strategy that best fits their circumstances.
WHY CHOOSE SPRATT?
of Experience in NZ Financial Services
NZ Owned and Operated