Compare banks

The following table gives you a fairly simplistic comparison across the main banks and their home mortgage pricing, policies and service.

This is based on our observations and feedback from clients. Our intention is to survey our newsletter mailing list annually to update this reference table.

Lender Positives Negatives
ANZ
  • No fixed rollover fees
  • Simple low rate variable product
  • Will do standard apartments to 80%
  • Can pay 5% off fixed rates for free
  • Bit more paperwork when it comes to locking in fixed rates
  • Credit policy tighter than other banks
ASB
  • Real time banking
  • Best parental guarantor policy in market
  • Less worried about servicing provided there is good security
  • Less competitive on pricing
  • Fixed rate rollover fees
  • Won’t do apartments
  • Tight credit policy for investors (max 70%)
BNZ
  • Will lend up to 95% at 1% premium to rates
  • Variable Offset Product
  • Excellent prepayment policy
  • Fixed rate rollover fees
  • Fees generally higher or charged more often
Kiwibank
  • Can borrow up to 95% but most expensive bank and least flexible above 80%.
  • Consistently competitive rates
  • Can pay 5% off fixed rates for free
  • Most punitive fixed rate prepayment fee policy in market
  • Most expensive low equity fee in market
  • Poor service levels and turnaround times.
  • Strict credit policy