This spring marks one of the biggest opportunities New Zealand homeowners have ever seen. More than $200 billion worth of mortgages – over 52% of the market are due to reset this September. This “Great Refix” means homeowners could save thousands if you make your move early, negotiate well, and choose wisely.
What the Great Refix means for you?
Interest rates have dropped by 2.5% since last year, the sharpest fall in over a decade. For a $500,000 loan, that could mean saving around $8,000 a year when you refix, even after break fees. Adding to the opportunity, housing affordability is now at its best level since 2019, making this one of the most favourable times in years to take the next step.
Why timing matters
Spring is when the property market begins to build momentum, with more buyers preparing for the surge of listings that arrive over summer. Acting now means you can refix ahead of the rush, giving you stronger negotiating power and certainty around your repayments. With summer being traditionally the busiest season for new property listings, being prepared now ensures you are ready to make the most of the opportunities as they appear.
Strategies to consider
Spreading your risk across mixed terms can give you certainty and flexibility as rates change. Switching lenders may also unlock cashback offers, which for many households can feel like an annual pay rise and provide extra room to invest, make mortgage overpayments, or strengthen insurance cover. With so many options available, negotiating with confidence is key, and that’s where an adviser can do the heavy lifting for you.
The Great Refix represents one of the best chances in years for homeowners to reset their mortgage strategy. With rates dropping, affordability improving, and the property market heading into its busiest season, acting now can put you in the strongest position to save money and prepare for the future. Our advisers can help you refix smarter, explore cashback opportunities, and make the most of any savings to strengthen your financial wellbeing.
Meet with one of our home loan advisers this spring, and you’ll go in the draw to WIN a $500 Briscoes gift card.*
Ready to take the big step into home ownership? Kristy Stewart from Apex Advice, with the team at realestate.co.nz, takes the guesswork out of the home loan process – check out the video to see how.
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