Refinancing to ANZ

[Frezzinghot]

Has anyone refinanced to ANZ lately? We are going through the process ATM.

[donna]

ANZ have the best user interface IMHO. Not with them right now but will be again - hope it all goes well Freezinghot.

[Engineer]

Nothing like the good old cash back scheme to move banks.
We are about to move one bunch of loans, just waiting for the next OCR before getting serious.
Probably 10k ish in the pocket for the move.
Better than a kick in the head.

[donna]

^^ How long do you need to commit though? Some require 3 years before you can move again.

[Sanya]

^^ How long do you need to commit though? Some require 3 years before you can move again.

For ANZ, my experience has been that the cash contribution offer is on the condition you stay an ANZ customer, with all of your banking and lending with them, for at least 3 years.

[Frezzinghot]

Just got finance from BNZ, ANZ wanted a DNA test and our first born! Oh well thier loss…

[Frezzinghot]

https://www.facebook.com/share/p/1E4HPYnKGx/?mibextid=wwXIfr

[Frezzinghot]

BNZ first to drop rates, couldn’t have worked out better!

[donna]

^^ Did you take the $$ contribution? It’s a good move by the banks to keep you with them for 3 or more years aye

[Frezzinghot]

^^ Did you take the $$ contribution? It’s a good move by the banks to keep you with them for 3 or more years aye

Yes took the cash, of all the banks BNZ seem to be more proactive, and the move early to drop rates shows how serious they are about market share, will be interesting to see who follows today

[Frezzinghot]

ANZ is the 2nd bank to drop mortgage interest rates today, ahead of the Official Cash Rate review !

6m rate dropped from 5.49% -> 5.29%

12m rate dropped from 4.99% -> 4.89% This is the lowest 1 year rate atm

18m rate dropped from 4.95% -> 4.85%

24m rate dropped from 4.99% -> 4.92%

Which rate would I recommend?

Using Opes Partners interest rate comparison tool

https://www.opespartners.co.nz/interest-rate-calculator

Ask yourself. 'After 6 months, do I think I could get a 6-month or 12 month rate less than 4.49%?'

If yes, go for the shorter 6-month rate, otherwise I would personally fix for 12 months rate.

[donna]

I got 4.99% for 24 months back in Aug 24 - I don't feel like I am missing out....yet.