CCCFA

The CCCFA is the backbone of borrower protection in New Zealand. It requires lenders to disclose a loan's costs before you sign, keeps fees tethered to actual costs rather than penalties, obliges lenders to lend responsibly, and gives borrowers rights, including the right to repay early and the right to ask for a hardship variation when circumstances change.

For refinancing, the CCCFA matters twice. It's why your current lender must tell you your payout figure and can only charge a reasonable break fee. And it's why a new lender must genuinely assess that the replacement loan is affordable for you. The responsible lending obligations apply to every new loan, refinances included.