What is it?
A refinance is essentially the transfer of your loan from one bank to another. It involves the discharge of your current mortgage and the registration of a new one with your new bank or lender.
This enables you to change the terms of your borrowing. Similar to when you first applied for your mortgage, a lender will look at your finances and determine your level of risk and favourability for a new loan.
When may you need this service?
There are many different reasons to refinance your home loan. You may seek to refinance a loan to: reduce the term of your loan; obtain a lower interest rate; restructure your loan to enable you to pay it off faster; consolidate various consumer debts by paying them off using money from a home loan, or take advantage of your home’s equity by increasing your borrowing to make improvements or renovations to your property.
How can we help?
The highly experienced team at Godfreys Law will guide you step-by-step through the process. We will contact your current lender to request a discharge of your existing mortgage, review the terms and conditions of your new loan, including an explanation of the key terms you need to be aware of, prepare and execute documents for the registration of your new mortgage, attending to the repayment of your existing home loan, as well as any consumer debts or rates arrears and deposit any excess funds into your nominated bank account.
Fixed Fees
Godfreys Law is now offering a set fee of $975.00 plus GST and disbursements for a simple refinance for refinancing with all top tier* lenders.
This fee only applies to a simple refinance which we define as:
- One couple/individual (in country)
- One mortgage only to be discharged
- No Company or Trust involved
- No other charges on title to be addressed
If you would like to know whether you qualify for the set fee, please give us a call on 03 366 7469.
*Top tier lenders are defined as ANZ, ASB, BNZ, Kiwibank, Westpac, SBS and TSB.
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