• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Capital Accounting

Capital Accounting

  • Home
  • About Us
    • Meet the Team
    • Join The Team
  • What We Do
  • Trusts
  • Blog
  • Contact Us
  • Show Search
Hide Search

Should I break my fixed term mortgage?

July 28, 2015 By Julie Keyworth

Last week saw the Official Cash Rate fall again, which is great news for property owners, especially as they are predicted to fall again.

Joy Coughlan of Investor Mortgages Limited advises:-

In NZ the cheapest mortgage borrowing is by fixing for a term (floating being more expensive) but the flipside of certainty with fixing is inflexibility, and if you want to break it for some reason, it can cost you. It’s important to consider your personal circumstances when deciding how long to fix for.

If you are locked in on more expensive rates, it can be worthwhile getting an estimate on the break cost, and then working out what you would spend to break, compared to what you would save by taking a cheaper rate.

One size doesn’t fit all so important to get the right advice!

We highly recommend Joy to assist with break quote and analysis.  The service is at no charge to you because as a mortgage broker Joy is remunerated by the bank.

Feel free to contact Joy directly:-

Joy Coughlan
Investor Mortgages Limited
joy@investormortgages.co.nz

027 223 3572
Phone: 03 344 6000
www.investormortgages.co.nz

 

Filed Under: Business Advice, Newsletters

Footer

Connect With Us

  • Facebook
  • Twitter

Privacy Policy | Terms and Conditions

xero gold partner
Spotlight Reporting Logo
Buy NZ Made Logo-Vector-Main (TM)
TT-Advantage_Partner-horiz-black-blackX-300dpi
Hubdoc Logo

Contact Us

Russell Keown House, Level 3, 1 Knights Road, Lower Hutt
– Entrance at 38 Queens Drive.

Ph: 04 385 4146
Ph: 0800 4U2 XL2 (0800 482 952)

Copyright © 2021 Capital Accounting Associates Ltd · Log in