Best New Zealand Home Loans - 1, 2 & 5 Year Fixed Rates and Variable/Floating Rates
Looking for the best home loan interest rates? Our home loan comparison tables give you an instant overview of the top deals from trusted New Zealand lenders.
Updated 16 January 2025
Compare Home Loans in Seconds
Every bank loudly promotes its mortgage offers, but does lower interest always mean the cheapest deal? Right now, we estimate there are over 200 home loan options available. The team at MoneyHub has handpicked what we consider the best mortgage deals available right now. Our list of home loan offers applies to first-time and existing homeowners looking to refinance or buy a new home.
We compare home loans from lenders all over New Zealand to help you find the best mortgage rates. We believe that the best mortgage offers will be the lowest priced, with low (or zero) fees and provided by a trusted lender.
Our guide covers:
We compare home loans from lenders all over New Zealand to help you find the best mortgage rates. We believe that the best mortgage offers will be the lowest priced, with low (or zero) fees and provided by a trusted lender.
Our guide covers:
Know this first: Buying a home is most likely going to be the most expensive financial decision you will ever make. Our helpful guides, calculators and resources are here for you to avoid ever paying more than you should.
Clear lender rates: Are you looking for mortgage rates in an easy-to-read table? LifeDirect Mortgages presents them clearly here.
When you're looking to buy a home, there are two important questions to ask yourself:
Our loan affordability calculator and repayment mortgage calculator answer both of these questions in seconds. Also, if you are on an existing interest rate and want to switch to a better deal, our fixed or floating interest rate calculator helpfully tells you how much you could save every month, and how much sooner you could pay off your mortgage.
Are you ready for a mortgage?
Our friends at LifeDirect Mortgages have a useful Mortgage Potential Calculator that gives you a clear snapshot of your borrowing ability in just a few clicks. Whether you're looking for a first home, refinance, moving home or an investment property mortgage, simply enter a few details, and you'll see:
It's easy to use, with clear visuals to help you understand your position. You do not need to enter any personal information.
Clear lender rates: Are you looking for mortgage rates in an easy-to-read table? LifeDirect Mortgages presents them clearly here.
When you're looking to buy a home, there are two important questions to ask yourself:
- How much can I borrow?
- How much is my mortgage going to cost every month?
Our loan affordability calculator and repayment mortgage calculator answer both of these questions in seconds. Also, if you are on an existing interest rate and want to switch to a better deal, our fixed or floating interest rate calculator helpfully tells you how much you could save every month, and how much sooner you could pay off your mortgage.
Are you ready for a mortgage?
Our friends at LifeDirect Mortgages have a useful Mortgage Potential Calculator that gives you a clear snapshot of your borrowing ability in just a few clicks. Whether you're looking for a first home, refinance, moving home or an investment property mortgage, simply enter a few details, and you'll see:
- Your estimated borrowing amount
- Monthly, fortnightly, and weekly repayments
- Your deposit and income breakdown
- Tips to improve your mortgage readiness
It's easy to use, with clear visuals to help you understand your position. You do not need to enter any personal information.
Your Guide to the Best Home Loan Rates, Brought to You by LifeDirect MortgagesLifeDirect Mortgages, a trusted name in mortgage brokering across New Zealand, proudly supports this guide. We value LifeDirect Mortgages' commitment to helping New Zealanders secure the best home loan solutions, offering personalised advice tailored to your needs.
Whether you're a first-home buyer, looking to refinance, or exploring investment property options, LifeDirect Mortgages' experienced team makes the process simple, transparent, and stress-free. We proudly name them winners of our 2024 Editor's Choice for our favourite nationwide mortgage adviser. We encourage you to contact their friendly experts to discuss your mortgage needs - you can learn more about LifeDirect Mortgages with our detailed review or visit their website. Clear lender rates: Are you looking for mortgage rates in an easy-to-read table? LifeDirect Mortgages presents them clearly here. |
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Video explainer
MoneyHub's Head of Research, Christopher Walsh, explains how to look for the best value home loan to reduce your overall costs of borrowing as well as highlighting must-know facts and considerations:
MoneyHub's Head of Research, Christopher Walsh, explains how to look for the best value home loan to reduce your overall costs of borrowing as well as highlighting must-know facts and considerations:
Best One-Year Fixed Home Loan Offers
Clear lender rates: Are you looking for mortgage rates in an easy-to-read table? LifeDirect Mortgages presents them clearly here.
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Heartland Bank 1 Year FixedRate: 5.49% p.a.
Minimum Equity: 20% Fees: No establishment fee Early Payment Charges: Yes Want to learn more or apply? Visit Heartland Bank Home Loans |
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ASB 1 Year FixedRate: 5.79% p.a.
Minimum Equity: 20% Fees: Establishment fee - $150 Early Payment Charges: Yes Want to learn more or apply? Visit ASB Home Loan Mortgages or apply directly |
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TSB 1 Year FixedRate: 5.69% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $250 Early Payment Charges: Yes Want to learn more or apply? Visit TSB Home Loan Mortgages or apply directly |
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The Cooperative Bank 1 Year FixedRate: 5.79% p.a.
Minimum Equity: 20% Fees: Establishment fee - $240 Early Payment Charges: Yes Want to learn more or apply? Visit Cooperative Bank Home Loans or apply directly |
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Westpac 1 Year FixedRate: 5.79% p.a.
Minimum Equity: 20% Fees: Establishment fee - $400 Early Payment Charges: Yes Want to learn more or apply? Visit Westpac Home Loans or apply directly |
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Kiwibank 1 Year FixedRate: 5.79% p.a.
Minimum Equity: 20% Fees: None Early Payment Charges: Yes Want to learn more or apply? Visit Kiwibank Home Loans or apply directly |
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ANZ 1 Year FixedRate: 5.79% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $500 Early Payment Charges: Yes Want to learn more or apply? Visit ANZ Home Loans or apply directly |
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BNZ Classic 1 Year FixedRate: 5.79% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $400 Early Payment Charges: Yes Want to learn more or apply? Visit BNZ Home Loans or apply directly |
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SBS Bank 1 Year FixedRate: 5.89% p.a. (first home buyers only)
Minimum Equity: 20% Fees: Loan Application Fee - $400 Early Payment Charges: Yes Want to learn more or apply? Visit SBS Bank Home Loans or apply directly |
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First Credit Union 1 Year FixedRate: 5.99% p.a.
Minimum Equity: 20% Fees: Establishment fee - None Early Payment Charges: None Want to learn more or apply? Visit First Credit Union or apply directly |
Your Guide to the Best Home Loan Rates, Brought to You by LifeDirect MortgagesLifeDirect Mortgages, a trusted name in mortgage brokering across New Zealand, proudly supports this guide. We value LifeDirect Mortgages' commitment to helping New Zealanders secure the best home loan solutions, offering personalised advice tailored to your needs.
Whether you're a first-home buyer, looking to refinance, or exploring investment property options, LifeDirect Mortgages' experienced team makes the process simple, transparent, and stress-free. We proudly name them winners of our 2024 Editor's Choice for our favourite nationwide mortgage adviser. We encourage you to contact their friendly experts to discuss your mortgage needs - you can learn more about LifeDirect Mortgages with our detailed review or visit their website. Clear lender rates: Are you looking for mortgage rates in an easy-to-read table? LifeDirect Mortgages presents them clearly here. |
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Best Two-Year Fixed Home Loan Offers
Clear lender rates: Are you looking for mortgage rates in an easy-to-read table? LifeDirect Mortgages presents them clearly here.
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Hearland Home Loans 2 Year FixedRate: 5.39% p.a.
Minimum Equity: 20% Fees: Establishment fee - None Early Payment Charges: Yes Want to learn more or apply? Visit Heartland Home Loans |
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SBS Bank 2 Year FixedRate: 5.49% p.a.
Minimum Equity: 20% Fees: Loan Application Fee - $400 Early Payment Charges: Yes Want to learn more or apply? Visit SBS Bank Home Loans or apply directly |
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Westpac 2 Year FixedRate: 5.49% p.a.
Minimum Equity: 20% Fees: Establishment fee - $400 Early Payment Charges: Yes Want to learn more or apply? Visit Westpac Home Loans or apply directly |
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ASB 2 Year FixedRate: 5.49% p.a.
Minimum Equity: 20% Fees: Establishment fee - $150 Early Payment Charges: Yes Want to learn more or apply? Visit ASB Home Loan Mortgages or apply directly |
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ANZ 2 Year FixedRate: 5.59% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $500 Early Payment Charges: Yes Want to learn more or apply? Visit ANZ Home Loans or apply directly |
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The Cooperative Bank 2 Year FixedRate: 5.59% p.a.
Minimum Equity: 20% Fees: Establishment fee - $240 Early Payment Charges: Yes Want to learn more or apply? Visit Cooperative Bank Home Loans or apply directly |
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BNZ Classic 2 Year FixedRate: 5.59% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $400 Early Payment Charges: Yes Want to learn more or apply? Visit BNZ Home Loans or apply directly |
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TSB 2 Year FixedRate: 5.59% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $250 Early Payment Charges: Yes Want to learn more or apply? Visit TSB Home Loan Mortgages or apply directly |
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Kiwibank 2 Year FixedRate: 5.69% p.a.
Minimum Equity: 20% Fees: None Early Payment Charges: Yes Want to learn more or apply? Visit Kiwibank Home Loans or apply directly |
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First Credit Union 2 Year FixedRate: 5.89% p.a.
Minimum Equity: 20% Fees: Establishment fee - None Early Payment Charges: None Want to learn more or apply? Visit First Credit Union or apply directly |
Disclaimer: Our team of experts have chosen those home loans they believe to be the best deals for two-year home loan terms. A selection of those, for which we have published links directly to the lenders, are shown above.
Your Guide to the Best Home Loan Rates, Brought to You by LifeDirect MortgagesLifeDirect Mortgages, a trusted name in mortgage brokering across New Zealand, proudly supports this guide. We value LifeDirect Mortgages' commitment to helping New Zealanders secure the best home loan solutions, offering personalised advice tailored to your needs.
Whether you're a first-home buyer, looking to refinance, or exploring investment property options, LifeDirect Mortgages' experienced team makes the process simple, transparent, and stress-free. We proudly name them winners of our 2024 Editor's Choice for our favourite nationwide mortgage adviser. We encourage you to contact their friendly experts to discuss your mortgage needs - you can learn more about LifeDirect Mortgages with our detailed review or visit their website. |
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Best Five-Year Fixed Home Loan Offers
Clear lender rates: Are you looking for mortgage rates in an easy-to-read table? LifeDirect Mortgages presents them clearly here.
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Westpac 5 Year FixedRate: 5.59% p.a.
Minimum Equity: 20% Early Payment Charges: Yes Want to learn more or apply? Visit Westpac Home Loans or apply directly |
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Kiwibank 5 Year FixedRate: 5.59% p.a.
Minimum Equity: 20% Early Payment Charges: Yes Want to learn more or apply? Visit Kiwibank Home Loans or apply directly |
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SBS Bank 5 Year FixedRate: 5.69% p.a.
Minimum Equity: 20% Fees: Loan Application Fee - $400 Early Payment Charges: Yes Want to learn more or apply? Visit SBS Bank Home Loans or apply directly |
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The Cooperative Bank 5 Year FixedRate: 5.69% p.a.
Minimum Equity: 20% Fees: Establishment fee - $240 Early Payment Charges: Yes Want to learn more or apply? Visit Cooperative Bank Home Loans or apply directly |
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TSB 5 Year FixedRate: 5.69% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $250 Early Payment Charges: Yes Want to learn more or apply? Visit TSB Home Loan Mortgages or apply directly |
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ASB 5 Year FixedRate: 5.79% p.a.
Minimum Equity: 20% Fees: Establishment fee - $150 Early Payment Charges: Yes Want to learn more or apply? Visit ASB Home Loan Mortgages or apply directly |
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BNZ 5 Year FixedRate: 5.89% p.a.
Minimum Equity: 20% Fees: Establishment fee - up to $400 Early Payment Charges: Yes Want to learn more or apply? Visit BNZ Home Loans or apply directly |