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What to do with a loan up for review

5 simple steps

Reviewing your mortgage when your fixed rate expires, or "refinancing" as some people refer to it as, is a really important part of ensuring you keep the overall cost of your home loan down.

For most people you've been enjoying a fixed interest rate for a couple of years or more and a letter from the bank comes in the mail saying your fixed rate is about to expire and they'll just roll you over on to another fixed rate for a term and a price that they suggest, or leave you to go floating. You don't want to just take this generic advice at this stage so below is the 5 things you need to do to make sure you've still got the best home loan.

  1. Get in touch with us - It really is that simple. We'll take care of all of the things below and ensure you're getting advice specific to your situation and of course this service will be free of charge.

  2. Review your structure - Is your current structure still the best fit for your financial goals and the way you earn your income. Now is a good time to change if you want to split your fixed loans or have a portion floating for easier repayment

  3. Consolidate - Do you have any other lending that you could consolidate in with your home loan to save interest? You could repay personal loans/vehicle loans quicker with the lower interest rates on offer with a home loan
  4. Top up - Do you need a new car or want to do some renovations to your property? Now is the easiest time to top up your loan.
  5. Negotiate - The interest rate the bank advertise or offer you initially may not be the best rate you can get. We know what the market is doing and what discounts are being offered so we can negotiate with your bank and others to get you the best rate available.

When you get in touch with us we will follow the above process and make things simple for you. In most cases you won't need to visit a branch and we can save you money along with ensuring the best structure to get you debt free quicker.

Click here to send me an email personally.

We look forward to hearing from you soon

Regards

Adam Thompson
Mortgage Broker
My Mortgage
Cambridge, Matamata, Te Awamutu, Hamilton, Auckland