Worth talking to a broker with this mortgage structure, or wait?
We’re hammering our mortgage pretty hard (most of my salary and living on my wife’s) but I keep seeing ads from a bunch of mortgage brokers and wondering what I might be missing and if there’s anything I can do to improve the strategy.
$523,599 mortgage, three way split with ASB:
Car loan (recently came off a 1% green loan)
$11,925
5.09 % floating
$1,183 / fortnight and throwing extra cash at it every week.
Fixed split 1 (renewal July 2026)
$260,775
6.55 %
$1,317 / fortnight
Fixed spilt 2 (renewal July 2027)
$288,935
4.92 %
$1,500 / fortnight
I’ve been with ASB about 7 years and we usually get about .25% off the advertised rate at re-fixing. Been quite a while since I last spoke to a broker.
Question: since the fixed split 2 comes up in July 2027, is there much point in running this by a broker now, or is it best to fix split 1 for another year and approach a broker before both come up for renewal next year?
Any advice much appreciated!