Property Law
Our Property Law Team has extensive experience in all forms of property transactions including; private residential, commercial property, first home buyers and property investors.
Refinancing
Refinancing can be a smart financial move - potentially lowering your loan repayments, shortening your loan term, or giving you access to the equity in your home for other investments. However it is also a legal transaction with long-term implications so seeking legal advice is vital.
The link between the OCR and your home loan
The OCR sets the interest rates on the deposits and loans that registered banks have with RBNZ. This in turn affects a bank’s earnings and costs, and influences how they set mortgage interest rates.
Why refinance?
There are many reasons to consider refinancing:
- Lower interest rates
Reduce your repayments and save money over the life of your loan. - Debt consolidation
Roll high-interest debt into your home loan for more manageable repayments. - Access to equity
Free up funds to add to or enter into other prudent investments (after talking to your lawyer!). - Switching lenders
Take advantage of better service or more flexible loan terms.
Why Legal Advice Matters
Once you have negotiated the interest rates and terms of your lending with your bank or broker, instructions are sent by the bank to your lawyer to register the mortgage. It is crucial that you obtain clear advice on the fine print in the lending and mortgage documents.
Our team can ensure that your refinance is carried out swiftly and effectively while keeping you informed throughout the process.
Resources.
Articles.
Parents Assisting Children Into Their First Homes – To Gift, Loan or Own?
In today’s world, it is very common for parents to help their children into property. There are a number of ways of doing this...
Retirement Village Living.
New Zealand’s ageing population has led to a proliferation of retirement villages, and the trend is only upwards. They’re a very convenient way of life for retired people with a vast range of amenities usually available...
Consulting lawyers prior to entering into agreements.
Buying or selling properties can be stressful. Whether you are buying or selling property, your lawyer should be your first point of contact for several reasons...
