Refinance Your Mortgage in NZ
Lower your rate, restructure your loan, consolidate debt, or unlock equity — we compare ANZ, ASB, BNZ, Co-operative Bank and a wide panel of non-bank lenders and only recommend switching when the numbers clearly stack up.
Book a Free Refinance ReviewIn short
Refinancing means moving your mortgage to a different lender — usually for a better rate, cashback, a structure your current bank doesn't offer, or to free up equity. It only makes sense when the long-term saving clearly beats the switching costs (solicitor fees and any break fees).
Should you refinance? Refix vs refinance
These are two different decisions. Most homeowners face both at fixed-rate rollover time.
Refix (stay with your bank)
- Fast — usually online or one phone call
- No solicitor or discharge fees
- Can usually still negotiate a discount on carded rates
- No cashback contribution
Refinance (switch lenders)
- Access to sharper rates across ANZ, ASB, BNZ, Co-operative Bank and non-bank lenders
- Cashback contributions often $2,000–$5,000+
- Opportunity to restructure (offset, split, revolving credit)
- Solicitor cost; possible break fee if mid-fixed term
Reasons people refinance
Get a better rate
Move to a lender offering a sharper rate, cashback, or both — especially when your fixed term is rolling off.
Consolidate other debts
Roll higher-interest personal loans, credit cards or hire purchase into your mortgage to reduce monthly outgoings.
Cash-out for renovation
Use the equity you've built to fund a renovation, addition, or major home improvement at mortgage rates.
Change the structure
Switch to split loans, add an offset or revolving credit facility, or align fixed terms with your goals.
Consolidating debt into a mortgage? Read our debt consolidation guide first — extending the term can increase total interest paid.
What it costs (and break fees)
Switching lenders has real costs. We model them upfront so you know your true net benefit:
- Solicitor fees: typically $1,000–$1,500 to handle discharge and re-registration.
- Discharge fee: your current bank charges a small fee (often $150–$300) to release the mortgage.
- Valuation: some lenders require a registered valuation ($800–$1,200) depending on LVR.
- Break fee: charged by your current bank if you exit a fixed rate early and wholesale rates have dropped since you fixed. Can be zero, or thousands.
- Cashback offset: the new lender usually contributes $2,000–$5,000+, which typically covers most or all of the above.
Want to model the repayment impact? Try the mortgage repayment calculator.
The process
Free review
We look at your current rate, structure, balance, term and any fixed-rate expiry dates.
Compare lenders
We compare ANZ, ASB, BNZ, Co-operative Bank and a wide range of non-bank lenders on rate, cashback, features and break-fee impact.
Application & settlement
We package the application, manage solicitor instructions, and coordinate the discharge and re-registration.
Refinancing FAQ
Free, no-obligation refinance review
15 minutes. We'll tell you honestly whether you're better off staying, refixing or switching.
Book Your Free ReviewThe information on this page is general in nature and does not constitute personalised financial advice. Lending criteria, fees, rates and policies vary between lenders and change over time. Please contact us for advice specific to your circumstances. Finance in NZ — Ishvinder Pal Singh, Financial Adviser (FSP1006734), Link Financial Group (FSP1003194).
