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What Do The Rising Mortgage Interest Rates Mean For You? Collins & May Law

Monday 10 May 2021, 11:41AM
By Media Giant
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The interest rates are likely to be increasing for the rest of 2021. If you need legal support when buying a home or refinancing, Collins & May Law is here to help you.

As the economy is improving, our borders are opening, and Covid vaccinations are rolling out, interest rates are also likely to increase in line with these improvements. Just in the first quarter of 2021, they have already risen by about 0.5%.

Investors and homebuyers should take into account these changes to plan ahead for any financial situation that they might find themselves in. It is likely that you might consider refinancing if another bank has a more appealing payment option for your needs. Collins & May can support you in this process and ensure you get the best loan for your situation.

The exact rise is difficult to predict, as it depends on inflation and fluctuation, amongst many other factors. As specialist property conveyancing lawyers, Collins & May can support you from buying right through to the discharge of your mortgage. If you have any questions about the mortgagee interest rate rises or refinancing, contact us, and we will be happy to support you legally in the process.

Collins & May Law are a Wellington-based general practice law firm with several years of experience in trusts, property, employment, relationship property, business and litigation. Our experienced team ensures your legal advice is tailored to your personal situation, and we love to create ongoing trusting relationships with all our clients. Get in touch with us now to talk about your mortgage interest rates and other home purchase questions.

For more information, visit our website at https://collinsmay.co.nz/.