Refinance vs Refix

What is the difference between refixing and refinancing?

Re-fixing your mortgage refers to a new loan with the same bank you’re already with. Refinancing is when you change banks to take advantage of lower rates. Whilst it’s easier to stay with your current bank, it can be better to refinance your mortgage with a different bank who will offer more attractive interest rates or offer you cash back to incentivize you to switch. Most banks have dedicated teams to help people switch banks and all automatic payments are seamlessly brought over. One of the reasons banks do this is because of their monthly targets. Your current bank might not be able to match the attractive rates and rewards being offered by other banks.

Use our refinancing calculator to see how much you could save on your monthly payments by moving to a lower interest rate.

Still confused? Read our FAQ

Refinance Calculator.

Savings Per
Month

Interest
Savings

Monthly
Payments

All potential costs are estimated and included in this calculation. Sometimes banks will charge you 'break fees'. These are factored into these savings estimates.
For more info email Support@iRefi.co.nz.

Proud Members Of:

NZFSGFSCL