Refinancing means moving your loans to a different lender. Restructuring means changing how your existing loans are made up. Both start with a check-up of where you are and where you want to be.
What restructuring can do
Consolidate or simplify your repayments
Give you interest-only relief
Extend or shorten the loan term
Why people refinance
Problems with your bank. It may not be able to help, you may be unhappy with the service, or you may no longer meet its policy or servicing rules.
Debt consolidation. Business loans, personal loans, credit cards and IRD debts can be combined into one loan, generally where you have enough equity.
More funds. Banks assess income and servicing differently, so another lender may let you borrow more for a property purchase.
Moving off a non-bank lender. If your finances have improved, a main bank may offer better terms.
Rates and cash-back. Bank cash-back offers are generally locked in for three years. After that you may be able to switch and negotiate a new rate, and moving from a non-bank lender to a main bank can reduce your rate.
Wondering if a change would help?
Call 021 217 8208 for a free check-up, or send an enquiry.
General information only. Lending is subject to each lender's criteria and approval.
