For ASB, BNZ and National Bank customers there is potentially a financial benefit from breaking your fixed rate mortgage especially if you took a longer-term fixed rate. In this blog we show you how it all works and what the benefits are
Are you still paying over 9% on your mortgage. You could save thousands in interest by refinancing out of your second-tier lender (Wizard, GE, Tasman, Trustee Executors etc) provided you have a clean credit history, proven income, and your mortgage is less than 80% of the value of the property
A number of clients tell us they get no-value from having a Business Banking Manager. And yet it wasn’t by choice and they end up paying for it with generally more expensive pricing!
Credit and lending decisions are increasingly being made by “Head Office.” This can have unwanted outcomes that you need to be wary of. More than ever it is important to plan your mortgages and split your relationship across multiple banks
Mortgage rates are forecast to bottom out around June 2009. Short term rates could get as low as 5.50% with longer-term rates getting down to around 6.00%-6.50%. In my opinion that means taking a six month fixed rate now at 6.50%-6.90% is the best option. In six months you can then look to split your mortgage into multiple fixed rates and spread them over 3-5 year fixed terms
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