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 3 years and then it comes to the end of its fixed term... what do you do then?

Generally, you’ll get a letter in the mail from the bank and they will suggest to fix it for another 2 to 3 years or whatever 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 you don’t want to let those things happen.

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

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

Talk to you soon!