Interest rates, loan structures, and your financial goals change over time—and that’s where refinancing your mortgage can make a real difference.
Refinancing simply means moving your mortgage (or part of it) to a new loan—whether that’s with your current bank or a different lender—to get a better deal, access equity, or restructure your repayments to suit your life now.
At LifeDirect, our mortgage advisers are here to help you figure out whether refinancing is right for you—and guide you through the process from start to finish.
Why Refinance Your Mortgage?
Homeowners across New Zealand consider refinancing for a range of reasons, including:
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Getting a better interest rate and saving on repayments
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Fixing or floating your loan to match market changes or lifestyle needs
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Consolidating debts into your mortgage at a lower interest rate
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Switching lenders for better service or features
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Accessing equity for renovations, investments, or major life goals
If it’s been a few years since you reviewed your mortgage, there’s a good chance you could be paying more than you need to.
When Should You Refinance?
Some good times to review your mortgage and consider refinancing include:
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Your fixed rate is about to expire
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You’re paying a floating rate and want to lock in certainty
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You’ve paid down some debt or your property has increased in value
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You’re unhappy with your bank’s service
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You need to borrow more and your current lender isn’t competitive
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You want to combine multiple loans into one easy repayment
Even a small drop in your interest rate can make a big difference over time, especially with larger loan amounts.
How Does Refinancing Work?
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Talk to a mortgage adviser: At LifeDirect, we’ll assess your current mortgage, understand your goals, and compare options from across NZ’s major lenders.
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Crunch the numbers: We’ll work out if refinancing will save you money or give you more flexibility—and highlight any costs involved.
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Apply and switch (if it makes sense): If you decide to go ahead, we’ll take care of the application and help you manage the transition between banks.
What Does It Cost to Refinance?
There can be some costs to consider—such as break fees (if you’re on a fixed rate), solicitor fees, or valuation costs. That said:
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Many banks offer cashback incentives to help cover these costs.
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Our advisers will calculate whether the savings outweigh any fees.
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Some lenders cover legal and switching fees as part of the refinance deal.
If the numbers don’t stack up, we’ll tell you. Our goal is always to make sure refinancing is the right move for you—not just a change for the sake of it.
Can I Refinance Without Changing Banks?
Yes—sometimes the best deal is simply negotiating better terms with your current bank, especially if you’ve built up equity or improved your financial position.
Our team can help with that too. We’ll talk to your bank on your behalf and make sure you're getting a competitive offer before you consider moving elsewhere.
What About Loan Structure?
Refinancing isn’t just about rate—it’s also a chance to make sure your loan structure still suits your lifestyle.
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Want more flexibility? We can explore floating or revolving credit options.
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Looking for repayment certainty? We’ll look at fixed terms.
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Need a mix? Many homeowners choose a split loan to balance certainty and flexibility.
Ready to Review Your Mortgage?
The home loan you signed up for a few years ago might not be right for you anymore. Refinancing can unlock real savings, flexibility, and control—but it helps to have someone in your corner.
At LifeDirect, our mortgage advisers work for you—not the banks. We’ll help you explore the smartest options, handle all the paperwork, and make switching smooth and stress-free.
Let’s chat about your mortgage and see if it’s still working for you.
