Residential Refinance
If you are changing banks or altering your mortgage our property experts can help you navigate the complex process at a reasonable fixed price.
plus GST and disbursements
$900
Expert conveyancing lawyers
Fixed Prices
Prompt and easy to understand communication
Full advice and support
What is included in the fixed price?
Full advice
Your conveyancing lawyer will provide full advice and support prior to you starting your property refinance transaction all the way through to settlement. We don't charge per phone call or per 6 minute unit.
Discharge and repayment of your current mortgage
We get in touch with your current bank to arrange the discharge of your current mortgage and repayment of your existing loan.
Process mortgage documents
We receive your loan and mortgage documents from your new lender, advise you on them, meet with you to sign and then complete all the necessary steps with your bank for settlement day.
Drawdown your new loan
On the settlement day we drawdown and receive your new loan and then use those funds to repay your old bank. Any surplus funds are transferred to your bank account.
Complete Settlement
Prior to settlement your conveyancing lawyer will meet with you to sign all the necessary documents. On the settlement day we work with your new bank and your old bank to arrange settlement and register the new mortgage on the title to your property.
Full post settlement report
Following settlement we will provide you will a full written report on settlement which will include a trust account statement showing the flow of settlement funds. and a copy of the updated title showing your new mortgage.
When should I get in touch with a conveyancing lawyer about my refinance?
You should get in touch with your conveyancing lawyer as early as possible in the process. We are more than happy to have a chat to you about your plans and give you advice on anything you should look out for. Because we have fixed prices you don't have to worry about being charged for each phone call. We can explain the whole property refinance process to you.so that you know what will be happening and when.
What's a disbursement?
A disbursement is something that your conveyancing lawyer pays for on your behalf. The most common examples during a residential property refinance are Land Information New Zealand search and registration fees. A title or instrument search costs $6 while the registration cost for the registration or discharge of mortgage are $90 each. These are the same costs charged by LINZ and we don't add any margin to them. Your particular transaction will determine the number and type of disbursements however the minimum for a standard property refinance will be a few title searches and registration of a discharge of your old mortgage and registration of the new mortgage, so all up $198. It may be more if we have to search extra interests noted on the title or register any other instruments.
My property refinance transaction might not be standard
If you think that your transaction might not be a standard transaction do not hesitate to get in touch to confirm. We can let you know if the transaction will be standard or if there will be any extra charges for those parts which are non standard. Some aspects that may make your transaction non standard are if a company or trust owns the property or you are obtaining finance from a lender that isn't a main NZ bank. Give us a call to confirm.
Can you advise me on my loan structure?
Our conveyancing lawyers are experts in property law not financial advice. We can let you know what your loan structure means and the legal aspects and implications of any security you are giving for your lending. However we can't advise you on what the best loan structure is. The best person to advise you on that is your qualified mortgage broker who are experts in providing that kind of financial advice.
Do I have to use a conveyancing lawyer for my refinance?
The short answer is yes. To secure the money the bank is lending they will usually require that you to grant a mortgage over your property. The bank will require a conveyancing lawyer to be involved in the transaction to ensure that their mortgage is correctly registered and their interest protected.