Should you fix or float your mortgage?

October 01, 2018 at 4:25 PM

AUCKLAND, New Zealand: Everyone has different needs—you may be wanting to pay off your loan quicker, or you may be looking for some relief from payments if you’re starting a family. Here at LoanPlan, we employ a number of loan restructuring strategies that can help you achieve your goals.


Fixed Rate Mortgage

Fixing your mortgage interest rate for a set term can provide certainty in times of economic volatility. As Auckland-based mortgage brokers, we work closely with the banks and can find you the best fixed rate offers.


Floating and Split Mortgages 

If you are starting a new home loan or about to come off a fixed rate, this may be a great time to discuss the pros and cons of a floating rate mortgage with your broker. We can advise you on the benefits of a floating rate. In some cases, a split loan (part fixed, part floating) will offer you the best structure, providing flexibility and certainty.



In some cases, it might be in your best interest to re-finance your property, to secure a better deal. This could include switching banks, based on the offers available and after a thorough assessment of the fees and costs.


Payment Frequency

Mortgage restructuring needn’t be complex—even a simple change from monthly to fortnightly payments can have huge long-term benefits, helping you pay off your loan quicker. 

In summary, it pays to regularly re-assess your home loan structure, to make sure you are maximising the benefits available. Your LoanPlan adviser can help you through the options and make recommendations that could save you thousands.


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