What to do when your fixed rate is about to come off your home loan.

In this video, I discuss re-fixing your home loan. When you take out a new loan you might fix that loan for 2 or 3years and then it comes to the end of its fixed term... what do you do then?

Generally, you’ll get a letter in themail from the bank and they will suggest to fix it for another 2 to 3 years orwhatever they’re recommending people to do at that time, or they might just say'do nothing and you’ll automatically move on to the floating rate.”

But there are two reasons why youdon’t want to let those things happen.

You don’t just want to take the rate thebanks are recommending to everyone because it might not be the best rate to fityour situation. And if you are on a floating rate, the interest rates could goup like they are at the moment and you’ll find yourself paying a lot more thanyou should be.

With that fixed rate coming off, it’sa really good chance to review your loan. Is the bank you are with at the momentgiving you the best deal? Have you got the best structure and can you save somemoney on your new fixed rates? Those are the questions I can help youwith so if you get in touch with me today, adam@nzadvicegroup.co.nz we canhave a review of your situation and find you the best deal.

Talk to you soon!