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Your Next Refix Should Match Your Life Plans; · That Home Loan Hub

• 0:10
  SPEAKER_00: This morning I received a message from a friend asking me what to do with her refix.
• 0:16
  SPEAKER_00: And the question was around hey, I've tried to Google the Google financial advisor is not giving me great ideas, and you were so amazing last time.
• 0:25
  SPEAKER_00: Can you please help out?
• 0:26
  SPEAKER_00: I've got Kunch today, and we're gonna dive into this topic.
• 0:29
  SPEAKER_00: Hello Kunch.
• 0:30
  SPEAKER_00: Kioda, how are you?
• 0:31
  SPEAKER_00: Good.
• 0:31
  SPEAKER_00: It's been a while since we've had you.
• 0:33
  SPEAKER_01: It's been, yeah, we haven't podcasts in a while.
• 0:35
  SPEAKER_00: We've been too busy.
• 0:37
  SPEAKER_00: Way too busy.
• 0:38
  SPEAKER_00: So, what do people need to do when the refix is coming up?
• 0:41
  SPEAKER_01: Oh man, I I I gotta love this whole Google AI advice.
• 0:47
  SPEAKER_01: Chat GPT.
• 0:48
  SPEAKER_01: Chat GPT, Claude or whatever, giving advice on people's personal financial situation.
• 0:55
  SPEAKER_01: Yeah.
• 0:56
  SPEAKER_01: Like when you're refixing your home, you've got to see, or your home loan, you've got to see the bigger picture, right?
• 1:02
  SPEAKER_01: Like you've you've got to plan what's the next, like what's gonna happen in the next year, what's gonna happen in the next 18 months or one year.
• 1:09
  SPEAKER_01: I know like we don't have a crystal ball or something like that, but you kind of know, right?
• 1:15
  SPEAKER_01: You're like, are you gonna stay in the same job for the next year?
• 1:18
  SPEAKER_01: Are you planning on you know going on a holiday or something?
• 1:23
  SPEAKER_01: Are you planning on getting married or something?
• 1:25
  SPEAKER_01: So those things have to come into play and be thought about when you're looking at refixing.
• 1:34
  SPEAKER_01: So I think that's where you know chat GBT or AI can't give you that personalized advice.
• 1:42
  SPEAKER_00: No, and one thing I said to my friend, client, friend, I love how all my clients end up being friends and friends end up being clients.
• 1:51
  SPEAKER_00: I said to her, okay, well, let's sit down, let's have a look.
• 1:53
  SPEAKER_00: And when we looked at other loans that she had, because she was looking at one loan in isolation, right?
• 1:58
  SPEAKER_00: But she's got other things that are happening behind the scenes.
• 2:01
  SPEAKER_00: There's another loan that's coming up in six months, there's another loan coming up next year.
• 2:05
  SPEAKER_00: And I was like, nah, this one needs to go a bit further because you're already exposing yourself to the risk in the next six to twelve months.
• 2:12
  SPEAKER_00: And if the rates suddenly go up, like we've seen over the next last week or two, yes, the rates have been going up.
• 2:19
  SPEAKER_00: Yeah, the OCR is predicted to continue to go up this year.
• 2:23
  SPEAKER_00: You need to protect yourself from that.
• 2:26
  SPEAKER_00: And if you're not planning to sell anytime soon, if you're not planning to receive a massive inheritance, winning lotto, I mean, hey, look, at the end of the day, if you win to win, if you win lotto and you need to pay down your mortgage and you're gonna get a break fee.
• 2:41
  SPEAKER_00: Doesn't matter.
• 2:41
  SPEAKER_00: Doesn't matter.
• 2:42
  SPEAKER_00: So, but what matters right now is protecting yourself from those hikes because everything is going up.
• 2:48
  SPEAKER_00: You want to predict your budget.
• 2:50
  SPEAKER_00: You don't want to end up in a position where you can't afford your own home.
• 2:54
  SPEAKER_00: So the message today really is don't listen to AI Chad GPT.
• 3:01
  SPEAKER_01: Yeah, speak to an advisor, you know, our service is free.
• 3:06
  SPEAKER_01: We can guide you through on, you know, what's the next thing, what's what to pick, basically, in terms of the term.
• 3:13
  SPEAKER_00: Do you think that's where the trouble is?
• 3:15
  SPEAKER_00: Because the service is free, people think they're not getting the value.
• 3:19
  SPEAKER_00: Possibly.
• 3:19
  SPEAKER_00: That's a good question, actually.
• 3:21
  SPEAKER_00: Because you know how like often you go and pay for something you value it more.
• 3:25
  SPEAKER_00: Yeah.
• 3:26
  unknown: Yeah.
• 3:26
  SPEAKER_00: Versus we're like, hey, we're free, come to us, talk to us, we're eager to help.
• 3:30
  SPEAKER_00: And they go, oh, this is dodgy.
• 3:31
  SPEAKER_00: Yeah.
• 3:31
  SPEAKER_00: Why they want to help us for free?
• 3:34
  SPEAKER_00: Let us remind you the banks actually pay us commission for the refix if you end up using our advice to refix.
• 3:41
  SPEAKER_00: And I mean the commission's not that great.
• 3:43
  SPEAKER_00: It's only a hundred bucks for the time that we spend.
• 3:45
  SPEAKER_00: By the time you take away, you know, the compliance behind it, the paperwork and everything else, it's still free.
• 3:51
  SPEAKER_01: I mean it is a huge process in the background that people don't realize.
• 3:56
  SPEAKER_01: Yeah.
• 3:56
  SPEAKER_01: And although our service is free, there's a lot of admin in the background.
• 4:01
  SPEAKER_01: But we do this role, this job out of love.
• 4:04
  SPEAKER_01: Out of love, yeah.
• 4:05
  SPEAKER_01: It's it's actually because we actually love doing it.
• 4:08
  SPEAKER_01: We love helping people be financially better off in the future, you know.
• 4:14
  SPEAKER_00: And I think a lot of people don't realize that, that we're not doing it because we want to get mega rich on your back.
• 4:20
  SPEAKER_00: We don't.
• 4:21
  SPEAKER_00: We don't get mega rich on your back.
• 4:23
  SPEAKER_00: Um, the like I I think I've hired five more people now because of the compliance.
• 4:28
  SPEAKER_00: Yeah.
• 4:29
  SPEAKER_00: And the back-end element of it that needs to go in.
• 4:32
  SPEAKER_00: So, for those people that are wondering how does this whole refix process works, you reach out to us, we sit down, we have a meeting with you, we discuss your future goals, we discuss your current goals, we discuss what's going on in your life.
• 4:42
  SPEAKER_00: We'll look at other loans as well and other things that you want to do.
• 4:45
  SPEAKER_00: You might be selling a house in the next six months, so you don't want to fix for five years.
• 4:49
  SPEAKER_00: No, you might be moving across to Australia, you might be retiring soon, and you've got Kiwi Saver coming up.
• 4:55
  SPEAKER_00: So there's so much happening in people's world.
• 4:57
  SPEAKER_00: Just because your neighbor did this or your friend did that, it may not be the right solution for you.
• 5:02
  SPEAKER_00: Yeah.
• 5:02
  SPEAKER_01: May not be suitable for you.
• 5:04
  SPEAKER_00: Correct.
• 5:04
  SPEAKER_00: So please, please, please reach out to us.
• 5:07
  SPEAKER_00: We don't charge yet.
• 5:08
  SPEAKER_00: Maybe we will.
• 5:11
  SPEAKER_00: But we don't charge your fees.
• 5:12
  SPEAKER_00: We want to help you.
• 5:14
  SPEAKER_00: And it's it is proven statistically, the New Zealanders that do get advice, they're actually financially better off in the long run than those New Zealanders that don't get advice.
• 5:23
  SPEAKER_00: Yes.
• 5:23
  SPEAKER_00: There you go.
• 5:24
  SPEAKER_00: Thank you so much for this episode, Kunch.
• 5:25
  SPEAKER_00: See you soon again.
• 5:26
  SPEAKER_01: Thank you.
• 5:27
  SPEAKER_01: Bye.