Welcome to That Home Loan Hub, your ultimate guide to mastering the world of home loans and property. I'm Zebunisso Alimova, here to simplify the complexities of real estate and provide you with expert insights and the latest trends.
Whether you're a first-time homebuyer, an experienced investor, or simply curious about the property market, this podcast is for you. Join me each week as we unlock the secrets to property success and help you make informed decisions. Let's dive into the world of property together!
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
0:00
|
10:43
Your bank makes refixing feel like a simple tap, but that one decision can shape your budget for years. We get real about what’s happening with mortgage interest rates right now, including why some longer terms can drop even when the headlines still feel uncertain, and how quickly the “best” option can change.
We talk through the practical side of choosing a fixed rate term in New Zealand: when a six-month fix can make sense, when a three-year fix can buy you stability, and why chasing the lowest rate without a plan can lead to panic fixing and painful repayments. Along the way we share client stories that show how life moves fast, like shifting from a plan to sell a home to deciding to buy a business, and why stable payments can matter even more when income becomes less predictable. We also unpack revolving credit and when it can genuinely help by offsetting interest, versus when it’s the wrong fit because that cash is earmarked for tax, GST, or big costs.
We finish with a simple truth about long-term mortgage advice: we’re here for the full journey, but we need you to meet us halfway. When that refix notification lands, treat it as your reminder to reach out so we can align your home loan structure with your goals and risk level. If you found this helpful, subscribe, share it with someone who’s about to refix, and leave a review. What term are you leaning towards right now, and why?
If you are curious about what the interest rates are doing right now, listen up. Hello Kunch. Interest rates. Yes. Home loans. Hot topic, interest rates. All
right. So a few weeks ago or months ago, we've recorded a podcast where we were talking about how the interest rates are on the rise. Yes. And then, surprisingly, then they changed again. Yeah, so the three year rates have dropped. Yep. Which is really cool. So for some of my clients, that when it fits them, I say, look, just lock it away. 4.99. You can't get better than that. Go for it. Yeah. Yeah.
SPEAKER_01
I think so. Yeah. So interest rates, they went up. I think, well, in December and early Jan. And then we obviously had the OCR last month on the 18th, I think, or February or something like that. And then one of our long-term rates, the three years, came down. But I also think the six months came down as well at the same time. So it's kind of like forever changing. And it's like the quickest change I've seen in a wee while as well. I don't how about you?
SPEAKER_00
Yeah, so um I was just thinking that if there was ever a time where people were doubting whether they should speak to a financial advisor, a mortgage advisor, this
is the time. Yeah. Because when we sit down with you, yeah, six months may look good, but is it actually the best rate for you? Yeah.
SPEAKER_01
Is it what is in your plan sort of thing? Yeah. Do you do you get the whole text? Hey Zeboniso, what do you think I should fix for? Oh, constantly. But it's like, sorry, but we haven't seen your full financial position. We haven't spoken to you. Yeah. We can't give you advice on just you going, which one should I select?
SPEAKER_00
And it's really interesting because the banks are now getting very, very digital these days, right? Yeah. So all they're doing is pushing out rates to our clients, going, hey, you can uh fix
online, here's the rate, just press the button. Yeah. But people are not getting the advice. Yeah. And that really bugs me. Because from one side, I'm like, yeah, I get it. The banks are trying to do the best thing for clients. You know, they're offering all this rates. But there should be a button of get in touch with your mortgage advisor.
SPEAKER_01
Yeah. Like I've seen so many times where we've been approached, and then you're like, why did you do that? Why did you do that? Pretty much, eh? Like, oh, why did you do that? Now we've got to break it out, restructure it, or things like that. And a lot of the answers I've gotten is, oh, we panicked.
SPEAKER_00
Yeah.
SPEAKER_01
We panicked because the rates were going up. And then we thought, well, you know, let's lock it in for long term, but um, you're now sitting at, you know, mid-sixes to sevens because you panicked. Yeah. Because you didn't have that conversation with an advisor.
SPEAKER_00
Well, I'll give you an example because people love stories, right? I was catching up with this client yesterday. And initially they did their finances six months ago. And at that point, I
was saying, look, we'll probably sell a house. So I said, cool, six months is the rate to go. So we fixed it for six months. Six months down the track. We're now sitting down last night and they're going, oh, actually, now we want to buy a house and we want to do renovations and not not buy house, buy a business. We want to buy a business and we want to do this, this, this, this. Should we still be fixing for six months? I'm like, well, probably in that case, no. Because if you're not going to be selling that house now, I would suggest fix for longer. And especially if you're going to be running a new business. Because when you're running a new business, you want stability. You don't know what the turnover is going to be. Yeah. Yeah. And at least you want stability in those three payments that you already have. So fixing something for three years will give you three years to build your business, to get the turnover, to get everything under wraps. So then three years later, you can be, you know, refixing for whatever term. But if you only fix for six months, and let's say, God forbid, this war breaks out even further, and now the rates are looking at eight percent. How are you going to manage your business and really high mortgage repayments? Right? Right. So I suggest for those that are contemplating life, they should really be reaching out to their financial advisor. Definitely reach out to us. Because what was right for you when you first took out a mortgage
may not be the right strategy six months down the track.
SPEAKER_01
Well, look how quick your that change for that person in six months, you know.
SPEAKER_00
Yeah. They went from, hey, we will sell it and we'll just buy investment property to hey, we're gonna keep it and we're gonna buy a business instead. Yeah. So absolutely for those that are listening and you get this push notification from the bank saying, Here are the rates, click a button, don't do that. Again, another story, a couple of nights ago, I was I spent an
hour explaining to one of our clients how the revolving credit facility works. Yeah, you know, and how they've got all this money that's sitting there and that can offset their mortgage. Yeah. Again, six months ago, that wasn't the right thing for them because six months ago that money that they had sitting in their savings was earmarked for Texas, GST, new car, whatever. So having a revolving mortgage six months ago was not right. Six months later, they've got all those extra funds again, and they're not gonna use those funds. So now we can do a revolving credit for them. Again, the situation can change. You know, we are here for you through all the ebbs and flows. And I think sometimes people think, well, they come to us, they got the house, see you later.
SPEAKER_01
Not at all. No, we're here for life. That's what I tell everyone. Like, I'm holding your hand through this journey, like we're on this journey together. For the next 30 years of your mortgage. For the next 30 years of the mortgage, or forever, how long I'm still around or alive. I love that. Yeah.
SPEAKER_00
And I've got story number three for you because I'm full of stories today. Again, another client of mine, we've helped them last year to get their first home. It was almost impossible to get them across the line. We got them across the line. And then he fallen off the radar. I bumped into him last week because I was helping his parents to buy a house. And it was a massive mission to help his parents. And this client of mine goes, You didn't get in touch with me for
my refix. And I said, I'm so sorry. It's just been such a busy week because I've been actually helping your parents this whole week. I've been helping your parents to get across the line. And that was a massive deal. And if we didn't get your parents across the line, then you know your parents would have missed out on the house. Because that's all right, that's all right. I went to another firm and I was like, What? How could you go to another firm? He went to another firm, and as people promised him to do XYZ, and he thought, wow, this is great, and then they didn't do that. So well, that's what happens when you cheat on us too. I know, that's exactly what I said. So I was like, dude, I helped you last year, you know. We went to heaven and hell together, and you let and then you just And you cheated on me? And you cheated on me and you forgot about just because I didn't get in touch with you about the refix. I got I got hurt. Yeah, I got really wounded in that moment, especially sitting right next to his parents. That you and I know how hard we fought for that couple to get them across the line for that house that they wanted. And I was like, what would you rather have? Me dropping the ball on your parents and you know, letting them lose that house, or me dropping the ball on you. And to be honest, I know we shouldn't be dropping the balls at all, but I've got this new theory of rubber ball and a glass ball. Do you know that theory? Okay. So everything in life that we have, you know, it can be divided into the rubber ball and a glass bowl. For instance,
if you didn't do the dishes, if um you didn't pick up whatever, you know, it's a rubber ball. You drop the ball, it will bounce back. No one died. But there are glass balls. Yes. If you drop that, yeah, that shatters, yeah, right. So when I was looking at him sitting next to his mom, I was like, you're a rubber ball. You know? I'm sorry, mate, but you know, if I drop the ball on you, I can live with that. Yeah. If I drop the ball on his parents, that would shatter. That would shatter my heart because for one, that was the dream home for them. There was something of high importance to them that will let them continue to run their business, to run their lives, give them better quality of life. So dropping the ball on the refix, I get it, not good enough, Zibunis, so you should do better. But you hope, sometimes you hope people will just come back to you.
SPEAKER_01
Yeah, and I think that's what we need to remind everyone as well, is that we're only human and we can take on so much of a load, right? We need you guys to be a little bit more proactive and
I call it adulting a little bit more, and just reach out to us because what happens is you get that push alert on your app and things like that 30 or 60 days out. That's your reminder to actually contact us as well. Because we, as I said, are juggling glass balls and rubber balls.
SPEAKER_00
We're firefighters, yeah, right? There's constantly a fire that's burning and we're constantly putting out fires.
SPEAKER_01
We yeah, just I guess a little bit of adulting would be please reach out to us when you have your refix, because we're only human.
SPEAKER_00
And the thing is, like he knows the moment he reached out to me, I was there, I was talking to him, I was giving him advice, you know, I was making sure that happens and that gets refixed at that time, at that point of life. That other company let him down. And so what happens when you start cheating on us, and he could see that difference, you know, in service that he received from us versus them. So for me, I just feel like sometimes it would be nice for people to just give us a chance to come, you know, always come back to us. The door is always open, come back to us, we'll always respond, we'll always go. But when there are so many balls in the ear, we want to make sure the glass balls don't get dropped and the rubber bands will be looked rubber ball, rubber ball, a rubber ball, they will be looked after as well. So um, so this is your friendly reminder that we're here for you. Just reach out to us, please. Just reach out to us, and look, it doesn't cost you anything. No, it's free, it's all free,
it's all free. So awesome. Thank you. Thank you so much. Hopefully, this episode was of value. Remember to share, subscribe, follow, whatever you need to do. Um, because we are getting now thousands and thousands of downloads, which is incredible. Like, we're growing exponentially and would love more support. So, thank you guys. Thank you. Bye.
