New Zealand Home loans comparison chart
At NZPCS we aim to make finding the right home loan for you easy. Below is a New Zealand home loan compariosn table which compares rates from many of the home loan providers in New Zealand. Eachhome loan lender has an outward link for quick redirection to their site.
| Mortgage Lender | Floating | 1 year | 2 years | 5 years |
| AMP Home Loans | 6.24 | 5.59 | 5.89 | 7.25 |
| AMP Home Loans $200k + | 6.14 | 5.49 | 5.79 | 7.15 |
| ANZ | 5.74 | 5.70 | 5.79 | 7.25 |
| ASB Bank | 5.75 | 5.70 | 5.85 | 6.90 |
| BankDirect | 5.75 | 5.70 | 5.85 | 6.90 |
| BNZ – GlobalPlus | 5.99 | 5.85 | 5.89 | 7.25 |
| BNZ-Std, FlyBuys | 5.99 | 5.85 | 5.89 | 7.25 |
| CBS Canterbury | 5.95 | 6.25 | 6.50 | 7.80 |
| Credit Union Auckland | 6.20 | n/a | n/a | n/a |
| Credit Union Baywide | 5.85 | 6.15 | 6.65 | n/a |
| Credit Union North | 5.80 | 5.80 | 5.95 | n/a |
| eMortgage | 6.04 | 6.15 | 6.69 | 7.90 |
| Finance Direct | 6.10 | 6.45 | 6.69 | 7.70 |
| General Finance | 5.95 | 6.25 | 6.50 | 7.90 |
| HBS Bank | 5.65 | 5.70 | 5.89 | 7.25 |
| Housing NZ Corp | 5.75 | 5.65 | 5.89 | 7.10 |
| HSBC | 5.99 | 5.65 | 5.87 | 7.20 |
| Kiwibanks | 5.65 | 6.25 | n/a | n/a |
| Liberty | 5.75 | n/a | n/a | n/a |
| Manchester Unity | 6.15 | 5.85 | 5.95 | n/a |
| National Bank | 5.74 | 5.70 | 5.79 | 7.25 |
| NZ Home Loans | 5.85 | 5.70 | 5.85 | 6.90 |
| NZF (LVR>80%) | 6.10 | 6.15 | 7.15 | n/a |
Definition of Terms used
Floating interest rate: Commonly referred to as variable interest rate. Fixed term loans tend to drop back to the variable rate after the fixed interest term is up. Variable rates fluctuate based on the Reserve Banks National cash rate.
Fixed interest rate: This rate is set for a certain period in time, varying anything from 6 months to 7 years. Fixed interest rates stay the same wether the floating rate soars or plummets.
LVR: Loan to Value Ratio, put basically, this is the amount that you are borrowing vs. the amount of the value of the property. Pretty much, how big your deposit is when compared to the price. The more money you put in, the lower the LVR. Which means less risk to the banks.
Front-end fees: These are the initial fees that a financial institution will charge to take out the loan. They are generally known as loan application or approval fees. They are a once of charge and pretty much cover the banks administration fees.
Capped rate: This is pretty much insurance for interest rate rises. This is the maximum rate that will be applied to your loan. If the floating rate is lower than your capped rate, then the lower rte will be applied to your loan. In this type of loan you can usually make extra repayments or pay the loan out fully without any penalties.
Disclaimer
While every effort is taken to keep this information up to date and accurate, it is in your best interest to check loan details and interest rates with providers. The publishers of NZPCS.org accept no liability for any inaccuracies or any loss suffered as a result of this table.
