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The Essential Mortgage Refix Checklist for 2025: What You Need to Know Before Your Rate Expires
Manage episode 484215544 series 3603762
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Refixing your mortgage might seem like a mundane financial task, but it's actually one of the most critical moments in your homeownership journey. A well-planned refix strategy can save you thousands of dollars and provide the flexibility you need for future goals.
Our 2025 Mortgage Refix Checklist breaks down everything you need to consider before signing on the dotted line. We start with the basics – knowing your current fixed term end date and understanding potential break fees – then dive deeper into how your current financial situation should influence your decision-making process. Has your income changed? Are major expenses on the horizon? Do you have adequate emergency savings? These factors significantly impact which mortgage structure will serve you best.
Beyond just comparing interest rates, we explain the strategic advantages of splitting your loan across different terms and how to negotiate with your bank for better deals. Most homeowners don't realize banks rarely offer their best rates upfront! We share insider tips on asking for cashbacks, fee waivers, and rate discounts that could substantially reduce your overall costs. Plus, we highlight the importance of aligning your mortgage decisions with future plans like selling or refinancing to avoid costly break fees.
Think of mortgage refixing as giving your finances a Warrant of Fitness – it's the perfect opportunity to review not just your home loan but your entire financial picture including insurances and KiwiSaver. Want a copy of our comprehensive checklist? Reach out or comment, and don't forget to join our fortnightly Thursday webinars for more valuable financial insights that put you in control of your money.
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Chapters
1. The Essential Mortgage Refix Checklist for 2025: What You Need to Know Before Your Rate Expires (00:00:00)
2. Welcome to Mortgage Refix Checklist (00:00:20)
3. Know Your Dates and Review Finances (00:00:46)
4. Rate Options and Loan Splitting (00:01:28)
5. Think Ahead and Negotiate Better Deals (00:02:26)
6. Reassess Your Entire Financial Plan (00:03:13)
66 episodes
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