Interest Rates

Interest rates in NZ are still falling, with ANZ releasing a historic low 1-year fixed rate of 3.05% just last week and several other lenders are following suit. Annual rollovers remain my preferred strategy for managing your mortgage effectively, especially in these uncertain times. 1-year rates allow you to keep your eye on the ball, however the current 2-year offer at 3.35% has merit in considering if your circumstances dictate certainty in repayments a little longer.

Break fees may not be as much of a handbrake towards the goal of saving money in the long term as you might think. Many of you may have loans coming up for renewal shortly and you may be wondering what the best option to take next is? Many of you will also be within your current fixed period and seeing rates fall. Either way, it may be a good time to look at refixing your loan onto a lower rate. Each situation is different however, and so it is very important to seek personalised advice to ensure you’re on the right path for your own circumstances. We can certainly help you here by cutting through the process and working directly with your bank – at a time when they are under enormous pressure trying to service all of their customers.

You may be unsure of your own situation with respect your job and income. You may be nervous about your continued ability to meet your mortgage commitments. If you would like us to crunch the numbers to see what options are available for you, get in touch. We would love to chat about how we can review your position and help you manage these uncertain times as well as you can while benefiting from the lower interest rate environment currently on offer.

We continue to be able to provide you with financial advice over the phone or via video call and documentation can be sent to you electronically. We continue to monitor the situation very closely and will provide further updates if required. Should you have any questions, please do not hesitate to contact us.

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