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Hello and welcome back to the show . Today we're going to talk about a mortgage refix checklist 2025 edition . So a lot of people come

Welcome to Mortgage Refix Checklist

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to us when the time is nearing to do a refix and they ask us very similar question time after time . So I decided to put together a little checklist to make your life easier and if you'd like a copy of this checklist , please comment or reach out and we'll send you a copy of it . So the first thing you need to know get a pen and paper ready . Let's go . Know your dates when does your current fixed term end and do you

Know Your Dates and Review Finances

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have a break fee if you change early ? This is something we can find out for you , usually as your advisor , but having this information on hand will usually speed it up for us to do our job better .

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Number two review your financial situation . Has your income changed recently ? Has it gone up ? Has it gone down ? Are you expecting any big expenses ? Is there a baby on the way ? Are you moving ? Do you have renovation coming ? Do you have savings or a buffer for emergencies ? Number three compare rate options . What are your bank's current offers for six months , one year , two years , three years ? What about floating or revolving credit ? Are there any cashbacks or discounts

Rate Options and Loan Splitting

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available ? Again , as part of our job , we go out and fund you if you can get any cashbacks or discounts . But if you know that or if you know what to ask , that makes your life easier as well .

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Number four consider splitting the loan . Would a mix of short and long terms reduce your risk ? Does splitting give you more flexibility ? Do you have a lump sum of money coming in anytime soon to assist you to make that decision lighter ? Number five think ahead . Are you planning to sell or move or refinance anytime soon ? Would fixing long-term limit your flexibility ? A lot of the time people don't realize that when they fix for long-term and then at the same time , trying to put their house on the market , they will actually face the break fees . Even if you buy and sell and you have to change your loan within one day difference , you will incur some break fees normally . So please think

Think Ahead and Negotiate Better Deals

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ahead . Number six run the numbers . So use a mortgage calculator or ask your advisor to model for you what the new repayments will look like under each option the total cost over time , break even points for fixing versus floating .

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And number seven , our favorite , of course don't just accept the bank's offer . Ask Can they match or beat other offers , can they waive fees or sweeten the deal ? So talk to us . We have options . We can see what other banks are offering and maybe sometimes you'll be better off just renegotiating Now . Bonus tip Refixing is also a great time to reassess your insurances , kiwisaver and your budget . Align your whole financial plan . Think of it as

Reassess Your Entire Financial Plan

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taking your car for a wolf . You take your car for a wolf every . You take your car for a wharf every year . Take your finances for a wharf as well . Well , thank you until next time and stay tuned for my webinar every fortnight on a Thursday . See you then .