Restructuring Your Mortgage

When you own property, that usually also means you get to deal with the trials and tribulations of mortgages and the various financing options available. While mortgage loans can be a headache, what’s important is that they can affect your financial well-being and future.

Mortgage restructuring is an option for people with a mortgage loan to renegotiate their loan’s repayment, get better terms for their mortgage agreement or simply get a better structure more appropriate for their specific situation.

Deciding whether or not to restructure your mortgage can be a difficult choice, but it’s made easier when you understand the process and its benefits.

Whether you’re just thinking about your mortgage options or you’re actively seeking to restructure your mortgage, you don’t have to navigate these waters on your own.

Let the Qualified Financial Advisers at MyFuture help you every step of the way to make sure you get the best mortgage restructuring deal you can.

Mortgage Restructuring In New Zealand

Owning property in New Zealand can be very rewarding, but it can also present a challenge.

If you’re concerned about paying your monthly mortgage repayments, or if you simply want to reduce your regular payments, restructuring your mortgage may be an attractive option to get you back on the right side of your finances. It can help you to get a better rate on your mortgage, new payment terms, or a longer period to pay off your mortgage.

Deciding if you should restructure the mortgage on your property is a complex decision and should not be taken lightly.

If you are considering restructuring, reach out to our experienced professionals at MyFuture for a no obligation FREE Discovery Session.

What Is Restructuring A Mortgage?

When you have a mortgage on your home, you pay interest on the loan you took out at a rate that is determined by the type of mortgage you availed of.

While this allows you to own a home without having the cash amount to buy it outright, it also means the interest you pay is essentially a service fee to the lender.

Fortunately, a situation may arise where you can restructure your existing mortgage to get a lower interest rate, better terms or a more appropriate structure for your specific situation.

As interest rates fluctuate, there may be an opportunity to restructure, secure more favourable terms or get a more appropriate structure for your mortgage with your existing lender.

Let the professionals at MyFuture work with your lender to negotiate the best deal and structure that will have your achieving your long-term goals as soon as possible.

Get Ahead With Quality Financial Advice

Our Qualified Financial Advisers can help you achieve your property goals with a tailored financial plan and proven financial expertise.

When Can You Restructure A Mortgage?

Restructuring a mortgage is an option for any property owner with a mortgage loan.

Depending on the conditions in your mortgage contract, you may be able to do it at any time, or you may be limited by penalties as to when you’re able to do it.

Depending on the penalties, it may still be your best option to restructure your mortgage right away.

Knowing when to remortgage is a complicated decision, so getting professional support from a Qualified Financial Adviser can help you get the timing right.

How Much Of Your Mortgage Can You Restructure?

If you have an existing mortgage and have made regular payments, you will likely restructure for the full outstanding balance on your property.

The money you’ve paid into the property is your equity and reduces the outstanding amount of your mortgage.

If you’re thinking of restructuring your home mortgage, make sure to consider how this will affect your finances, the total amount you pay, and the costs of your regular mortgage payments.

When you’re ready to restructure your mortgage, having the support and experience of a Qualified Financial Adviser can mean the difference between losing or saving significant sums of money. Get in touch with MyFuture for your FREE Discovery Session today.