Mortgage Refix

What You Need to Know About

Mortgage Refixes

Talk to a Mortgage Broker

If it’s time to refix your mortgage, we can help.

Let us negotiate the best rate from your bank. No cost. New clients welcome.

Every week, we negotiate millions of dollars of mortgages on behalf of our clients at no cost.  We have a constant stream of data seeing what the best rates are and work with your bank to negotiate that.

If you are looking to get the best rate from your bank and want help, complete the form below and one of our advisers will be in touch asap.

Click for interest rate FAQs

Yes, as part of our discussion we will discuss whether the structure of your mortgage is still correct for you.  If it’s not, we will discuss what a better structure might be for you.  There is no additional cost for this.

Almost all Mortgage Lab services are at no direct cost to you as our brokers get paid a commission by the banks and other lenders when a mortgage is finalised or refixed.

The exceptions to this:

  • If a mortgage is paid off or discharged within 27 months, a fee may be incurred.  See our FAQ: What if I sell my home or refinance my mortgage shortly after using a mortgage broker?
  • Finance companies may require a fee to be added to the loan rather than paying us a commission. You’ll always be made aware of these fees long before they are locked in.
  • If, following the service provided by the adviser, you elect not to continue engaging Mortgage Lab to settle the mortgage or finalise the insurance product, the adviser may charge you an hourly rate of $250 for the work provided.  The maximum charge we will typically invoice for is $2,500.

The commissions paid are below.  These commissions are accurate at the time of writing – 15th March 2021

Lender Upfront Trail Refix
ANZ 0.85% N/a $150
BNZ 0.55% 0.15% N/a
ASB 0.85% N/a $150
Westpac 0.60% 0.20% N /a
Sovereign Home Loans 0.60% 0.20% N/a
ASAP Finance Limited Fee Charged N/a N/a
Avanti Finance Up to 0.80% N/a N/a
Cressida Fee Charged N/a N/a
DBR Fee Charged N/a N/a
First Mortgage Trust Fee Charged N/a N/a
Heartland Bank (Reverse Mortgage) 1.50% N/a N/a
Liberty Financial 0.60% 0.15% N/a
NZCU (Personal Loans) 1.00% N/a N/a
RESIMAC 0.60% 0.15% N/a
SBS Bank 0.80% N/a $150
Southern Cross Fee Charged N/a N/a
The Co-operative Bank 0.70% N/A $150

It doesn’t cost you anything for us to negotiate and refix your rates for you.  We are paid by the banks for our time.  Why?  Our service replaces the cost a branch or phone centre employee.  There is no additional cost or fees added on for you.

Typically break fees aren’t negotiable with the bank.  However we will find out what they are going to be and calculate whether it is worthwhile breaking your current rate.

It varies from bank to bank.  With most banks the process:

  • a quick discussion
  • you send us an email asking us to request interest rates from the bank
  • we negotiate the rates with the bank
  • we have another discussion about which rate is best for you
  • you can confirm this to us via a short email

The whole process takes around 20 minutes.

We can negotiate with most of the main banks:

  • ANZ
  • ASB
  • BNZ
  • Westpac
  • Sovereign Home Loans
  • SBS
  • Co-Operative
  • Bank of China

We can also talk with the non-bank lenders such as Resimac, Pepper Money, Liberty Financial and others.  If you’re unsure, give us a call and we’ll let you know.

As above, sometimes a bank just isn’t looking for you as a client. In this instance, they can either decline you or make the terms of your lending so ridiculous that you either accept (sucker!) or you go away. We know what banks have an appetite for and send you to the right bank without you shopping around banks.

What Past Clients Say…

Laura was awesome to deal with. She made everything so simple and extremely stress free

Laura Cates

Debt Consolidation - R Farrell, Northland

I cannot recommend Robyn highly enough. Stand-out! Awesome, amazing and made everything stress free. Robyn was amazing!

Robyn Turner

Refinance - Christchurch

Amazing every step of the way, no question was to hard and kept us up to date with how everything was going!

Rachel Railey

Refinance - L Fisher, Waikato

I will recommend Robyn to everyone I know. She was super professional and helpful every step of the way.

Robyn Turner

Mortgage Restructure - Tauranga

Lynne was fantastic to work with, totally honest all the way through and she really understood the way my pay worked (as I am self-employed). I felt that she was totally in my corner all the way through.

Lynne Dent

Refinance - J Denham, Christchurch

Our remortage and additional loan wasn’t straight-forward as we were overseas and with Covid not able to return. Our advisor, Kyn Jackson, went above and beyond to find the best package and then worked tirelessly to solve bank queries due to us being overseas. He was amazingly helpfu.

Kyn Jackson

Refinance - Auckland

Very professional service.

Samuel Eva

Top Up - G Eva, Auckland

Keith is always very professional, friendly, helpful and has excellent communication skills. I would highly recommend him.

Keith Munro

Top Up - Wellington

Huriana has been fantastic, no hesitation in recommending her.

Huriana Tahere

Refinance - D Ackley, Christchurch

Crystal is a professional person, she did great jobs during my home loan application. I’ll highly recommend her services to anyone.

Crystal Grossart

Top-Up - W Lien, Hamilton

We are very happy with Johnny, he understand very well our needs, our ability and he also understand how the financial institution works therefore he is able to provide us some solutions.

Johnny Ang

Top Up - K Sulinom, Auckland

Robyn is an amazing, competent, capable and detailed broker to have on your side! She turned our dreams to realty.

Robyn Turner

Refinance - Tauranga

I found Robyn very attentive and knowledgable. I had a complicated application and she made it very easy for me. She managed to get it all sorted for me.

Robyn Turner

Refinance - Tauranga

Lynne made the process of refinancing our home loan very easy and straightforward. She was always very easy to get hold of and constantly kept us up to date with the progress of our application. Would definitely use her again and recommend her to others.

Lynne Dent

Refinance - A Kennett, Kaiapoi

Brett has helped us a couple of times and he’s been fantastic. We’ve recommended him to our friends and family as well.

Brett Davies

Top Up - Auckland

Karen and I work in similar industries so I thought I had a pretty good idea about what I wanted to do with my mortgage. Her advice far exceeded my expectations, she was thorough, fast, saved me more money than I expected in multiple ways and will absolutely be using her again!

Karen Hyland

Refinance - Auckland

Much better outcome than what I expected. Very nice person with great knowledge and advises.

Johnny Ang

Top Up - J Sugiarto, Auckland

Awesome work both times we have worked with Sam.

Samuel Eva

Refinance - J Stockley, Auckland

Johnny Ang is a reliable professional with great character. He had exceeded our expectations and went extra mile helping us. We will definite engage him again!

Johnny Ang

Refinance - E Mangampat, Auckland

Amazing at her job. Totally recommendable.

Robyn Turner

Refinance - D Jory, Tauranga

Robyn has been wonderful and made the paperwork hassle an easy thing. We are very grateful for her help.

Robyn Turner

Refinance - A Thierry, Christchurch

I was stuck trying to refinance my mortgage. Samuel sorted everything in a professional calm way and followed up at all stages.

Samuel Eva

Refinance of Existing Mortgage - Auckland

Karen was the ultimate professional offering great options and very helpful answering any questions I had. I would recommend this service to anyone either buying their first home or just looking at their choices.

Karen Hyland

Top Up - J Vickers, Auckland

Keith has fast communication and is able to work with unusual situations creating a positive outcome for us.

Keith Munro

Top Up on Existing Mortgage - Wellington

Lynne was perfect for us. I know that the Mortgage Lab have great systems and support and Lynne was excellent.

Lynne Dent

Top Up - B Barr, Christchurch

Robyn made the entire process of refinancing our mortgage easy, straightforward, and completely stress-free. Robyn is very professional to deal with, and really knows her stuff! I would happily recommend Robyn to anyone.

Robyn Turner

Top Up - M Johnson, Tauranga

Lynne took all the hassle and stress out of remortgaging my home, infinitely capable, Lynne had me “sorted out ” in double quick time. Even while on holiday Lynne kept me up to the minute on progress……. Legend

Lynne Dent

KiwiSaver and Mortgage Refix - V Stokes, Christchurch

No cost, no catch. Just good advice

Chat to us any time you have a question.