Oct 14, 2024
Break Costs on Home Loans in New Zealand: What You Need to Know!
Thinking of refinancing or repaying your fixed-rate mortgage early? 💰 Be aware of "break costs" – fees charged by lenders if you end your fixed-term loan before it expires.
These costs cover potential losses for the lender due to changes in interest rates. 🔄
Break costs can be significant, especially if rates have dropped since you locked in your rate. It's crucial to weigh the savings from refinancing against these fees. 🏡💸
Considering refinancing?
Talk to your lender about potential break costs to avoid surprises.
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