Refinancing Your Mortgage

Refinancing your mortgage is more than switching to a better rate — it is a legal transaction that requires precision, coordination, and the right advice at every step. Whether you are switching lenders, consolidating debt, or unlocking equity, we manage the entire legal process for you: from instructing the discharge of your existing mortgage through to registering the new one.

We work quickly, communicate clearly, and make sure the transaction settles on time. Most refinances are completed within two to five business days of receiving the new loan documents. We provide a fee estimate up front so you know exactly what to expect, and our fees do not increase as the matter progresses.

Who this is for

Homeowners switching banks. Your fixed-rate term is rolling off and the rate on offer from your current lender no longer reflects what the market has available. A mortgage adviser has found you a better deal and now you need a lawyer to make it happen. We take care of the entire legal side — discharging your existing mortgage, reviewing and executing the new loan documents, and registering the new security — so the switch settles quickly and without complications.

Investors restructuring their portfolio. When you hold multiple properties, a refinance often involves multiple loan splits, multiple lenders, and careful attention to how security is held across your portfolio. We manage the coordination between all parties, ensure each property is correctly secured under the new lending structure, and make sure the transaction settles in the right sequence so nothing is left unsecured at any point.

Owners pulling cash out. Releasing equity from your property — whether for a renovation, a deposit on your next purchase, or another purpose — follows the same legal process as a standard refinance but with a higher loan balance and a clear use-of-funds statement. We ensure the documentation is accurate and that the funds reach you on settlement day without delay.

Trustees and company directors. Refinancing a property held in a family trust or look-through company involves a more involved document trail — trustee resolutions, additional identity verification, and in some cases director and shareholder approvals. These additional steps are required by the lender and must be completed correctly before settlement can proceed. We have handled many transactions of this kind, we know exactly what each lender requires, and we manage the additional steps efficiently so the transaction settles cleanly and on time.

What we do

Discharge of the existing mortgage

Before the new lending can be registered, your current lender must formally release its security over the property. We send the discharge authority to your existing bank, confirm the payout figure required to clear the loan, and ensure the discharge of mortgage is prepared and ready to be removed from the title on settlement day. Banks typically need four to seven working days of notice to prepare a discharge, and we follow up actively with them throughout that process so the timeline stays on track.

Reviewing the new loan documents

When the new lender issues a letter of offer, the loan documents that follow are legally binding contracts. Before you sign anything, we review every condition in the offer on your behalf. This includes:

Confirming the interest rate, fixed-rate term, and repayment structure match what your adviser agreed with the bank.
Identifying any conditions that must be satisfied before settlement — such as a registered valuation, a builder’s report, or evidence of insurance — and advising you on how to meet them.
Preparing a plain-English summary of the key terms so you understand exactly what you are committing to before you sign.
Arranging execution of the loan documents, either in person at our office or by video signing where the bank permits it, and returning the completed package to the bank.

We also review your insurance certificate to confirm that the correct property address is noted, that the lending bank is listed as an interested party, that the coverage is adequate, and that it is current as at the settlement date. If anything is missing or incorrect, we let you know before it becomes a problem.

New mortgage registration

On settlement day, we register the new lender’s mortgage on the title at Land Information New Zealand. The discharge of the existing mortgage and the registration of the new one are handled as a coordinated, same-day event so the title is never left in an unsecured state. This coordination is critical — any gap between discharge and registration can cause issues with the incoming lender, and we make sure it does not happen.

Settlement and payment of funds

On settlement day, the new lender’s funds clear into our trust account. We apply those funds to pay out your existing lender to the exact discharge figure, ensure the discharge is confirmed, and pay any remaining funds — such as equity release — to you by direct credit on the same day. We manage all communication between the banks to confirm that settlement has completed successfully.

After settlement

Once settlement is complete, we send you a copy of the updated title showing the new mortgage registered in favour of your lender, retain all required compliance records, and close the file. If you are refinancing multiple properties in sequence, we coordinate the settlement timing across each one so that every property settles cleanly and no security is left unregistered at any stage.

Process and timeline

A standard residential refinance with no complications takes two to five business days from the day we receive the new loan documents.

Step	Typical timing	What happens
1. Instruct	Day 0	You send us the letter of offer from your new bank. We open the file.
2. Open file	Day 0 to 1	We complete identity verification, review the loan conditions, and confirm your fee estimate.
3. Discharge instruction	Day 1 to 2	We instruct your existing bank to prepare the discharge of mortgage and confirm the payout figure.
4. Loan document signing	Day 2 to 3	We review the loan documents with you and arrange signing in person or by video.
5. Settlement	Day 4 to 5	The new lender’s funds clear, the existing mortgage is discharged, the new mortgage is registered, and any equity release is paid to you on the same day.

Transactions involving multiple properties or trust and company structures typically take seven to fourteen business days. We will confirm the expected timeline when you send us the letter of offer so you can plan accordingly.

What it costs

Fixed-fee estimate, provided up front.

1 Property
$750

+ GST + disbursements
2 Properties
$1,200

+ GST + disbursements
3 Properties
$1,700

+ GST + disbursements
4 Properties
$2,100

+ GST + disbursements
5 Properties
$2,500

+ GST + disbursements

Disbursements (LINZ registration, AML identity verification) are quoted at the time of instruction and vary by matter.

FAQ

Frequently asked questions

How fast can a refinance actually settle?

Most standard residential refinances settle within two to five business days of us receiving the loan documents. The timeline depends on how quickly your existing bank prepares the discharge and whether all loan conditions are met. We will give you a realistic estimate when you send us the letter of offer and keep you updated throughout the process.

What is the difference between refinancing and topping up my existing loan?

A top-up stays with your current bank — you are simply increasing your existing loan balance with the same lender. A refinance moves your mortgage to a new lender entirely, which requires the discharge of the existing mortgage and registration of a new one. Both transactions involve legal work. A refinance involves more steps, but we manage all of them for you so the process is as straightforward as possible.

Will refinancing affect my interest deductibility on an investment property?

Refinancing itself does not affect your ability to deduct interest. However, if you are releasing equity and using those funds for a purpose unrelated to the investment property, the deductibility of interest on that portion of the loan may be affected. We recommend speaking with your accountant before settlement if you are accessing equity for non-property purposes, so you understand the tax position before you commit.

Do I need to come into the office to sign?

Not necessarily. We offer video signing for loan documents where the bank permits it, which means you can sign from wherever you are without needing to take time out of your day. We confirm the signing method when we receive the loan documents and will arrange whatever approach works best for you.

What documents do I need to send through to start?

The only thing we need to get started is the letter of offer from your new bank, or the email your mortgage adviser sent you confirming the terms. Once we have reviewed it, we will request anything else we need to open the file and get the process underway.

Can I refinance to release equity for a deposit on another property?

Yes, and this is one of the most common reasons clients refinance with us. We manage the equity release as part of the settlement process — confirming the correct discharge figure, ensuring the use of funds is properly documented, and paying the released equity to you by direct credit on the day settlement completes.

What happens if my existing fixed-rate term has not finished yet?

Your existing lender may charge a break fee for exiting a fixed-rate term early — that is a question for your lender, and your mortgage adviser can help you work out whether the savings justify the cost. On the legal side, the process is exactly the same as any other refinance. We will manage the discharge and settlement in the normal way once you decide to proceed.

What happens next

Forward the letter of offer from your new bank, or the email your mortgage adviser sent you confirming the deal, and we will provide a fee estimate within two business hours. Most refinances we receive on a Monday morning settle by Friday afternoon.

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