Refinancing your home loan could save you thousands
Reviewing your mortgage or switching to another bank could save you a ton in interest, plus some extra cashback when you need it.
With the current market situation, it's best to chat to an adviser before making any decisions. Let us help you figure it all out, and in the meantime check out our Guide to Refixing and Refinancing.
Interest rates stated are accurate to the best of our knowledge at the time of filming, and any opinions expressed are the speaker's own views and are not financial advice. Interest rates are ever-changing, and we're still yet to find a reliable crystal ball. As always, we recommend seeking advice from your Mortgage Adviser before taking any action.
How much could I save by refinancing?
Pop in a few details about your current mortgage and we'll estimate how much you could save by refinancing.
Interest rates stated are accurate to the best of our knowledge at the time of filming, and any opinions expressed are the speaker's own views and are not financial advice. Interest rates are ever-changing, and we're still yet to find a reliable crystal ball. As always, we recommend seeking advice from your Mortgage Adviser before taking any action.
Best advertised rates by term
6 Months fixed
4.65%
12 Months fixed
4.65%
18 Months fixed
5.09%
2 Years fixed
5.19%
Revolving
5.89%
Floating
5.34%
Rates sourced from MortgageRates.co.nz. Advertised interest rates require a minimum of 20% equity and are subject to change. T&Cs apply.
To view all advertised mortgage rates, check out our interest rates page.
Now could be a good time to make a bit of cash on your mortgage
It could be worth refinancing to a different bank, or getting us to negotiate with your current one to lock in a good rate to make your payments manageable.
You can also get a sweet cash back worth up to 1% of the loan value in some cases.
But it's not only about the money you can save up front, it's about structuring the mortgage in the right way long-term too.
Unlock cash back when you switch banks
Let us do the hard work while you dream up how you’ll spend your dollars.
Find out how much cash back you could get just by switching banks. Book a chat today.
| Loan amount | Estimated cashback* |
| $300k - $400k | $2,400 - $3,600 |
| $400k - $500k | $3,200 - $4,500 |
| $500k - $600k | $4,000 - $5,400 |
| $600k - $700k | $4,800 - $6,300 |
| $700k - $800k | $5,600 - $7,200 |
| $800k - $900k | $6,400 - $8,100 |
*Cashback amount shown is indicative only, actual cash back will vary depending on individual circumstances and lender T&C's.
Here's how we helped a young couple save $500K in interest and slash 14 years off their mortgage. Want to see if you could do the same?
Get the ultimate guide to refixing and refinancing
We've pulled together all our best refixing, refinancing and restructuring hacks to help you master your mortgage – and likely save yourself thousands.
What are the benefits of getting a free mortgage review?People often think that having a mortgage review means tons of tricky forms and ultimately changing banks. It doesn't have to be like that.
People often think that having a mortgage review means tons of tricky forms and ultimately changing banks. It doesn't have to be like that.
Get the best possible interest rates
Saving just a small amount on your interest rate can make a difference to your monthly payments, leaving you more money for the things you want - not to mention getting your home loan paid off quicker.
You don't necessarily have to switch banks to get a better rate
Your Squirrel mortgage adviser can often renegotiate your mortgage with your current bank, saving you the hassle of switching if you're happy where you are.
If your lifestyle has changed, so should your mortgage
Maybe you've started a family, maybe you've retired. Whatever life stage you're at, make sure your mortgage is structured in the best possible way to suit your needs right now.
Save thousands over the life of your home loan
We're not thinking peanuts here. We're talking tens of thousands of dollars! A review costs you nothing but could save you buckets of money. Seems like a no-brainer.
Let's review your mortgage
It could make a huge difference - and it's free!
We work with all the banks
And more options means a better deal for you
What will my mortgage repayments be?
Work out your regular repayments and how quickly you could pay off your home loan.
*This calculator is intended as a guide for illustrative purposes only and is not intended to provide financial advice. The results are based on the information you enter and assume that interest rates and loan terms remain constant for the duration of the loan. It does not account for fees, fluctuating interest rates, or changes to your financial situation over time. Please note that actual repayment amounts may differ and interest rates are subject to change. To talk to one of our team at Squirrel, contact us here. We recommend seeking financial advice about your situation and goals before making any financial decisions.
The lowdown on break fees
Sometimes when reviewing your mortgage we might find that the best solution is switching you to different bank. In this case the bank your mortgage is with will charge what's called a "Break Fee". This is because you are breaking a legal contract between you and the bank. The bank incurs a real cost as a result, which is then passed on to you. They’re not just trying to squeeze you for a bit more.
Generally speaking, the longer the remaining time on your fixed term or the bigger the difference between your current interest rate and the new rate (if switching from a higher rate to a lower rate), the higher the break fee. In an environment like now where interest rates are rising, break fees are minimal.
Should I refinance to a different bank to get a better deal?
Homeowners can often benefit from refinancing their mortgage because lenders will typically be more competitive with pricing for new business. If you're thinking about switching banks, here are 4 things to consider.
Useful information and insights
Learn more about how to structure your mortgage and the benefits it can bring from our blog.
Watch the latest interest rates and property market updates
Watch our latest update on interest rates and the property market - covering house prices, the economy, the OCR and where mortgage rates might be heading.
Wellington property market update - July 2026
Between global volatility and election uncertainty, it feels a bit like we've got one foot on the accelerator and one on the brake at the moment. Despite interest rates starting to track upwards, it's still very much a buyers' market out there in the Capital. Here's the latest from our resident Wellington mortgage expert, Nick Virtue.
Christchurch property market update - July 2026
While the rest of the country takes more of a wait-and-see approach to global and domestic uncertainty, Christchurch continues to run its own race. Here's the latest from our resident Christchurch mortgage expert, Nathan Miglani on what's been happening across the Cantabry housing market.
Stay plugged in to the housing market
Keep on top of everything going on with Views from the Treehouse, the Squirrel blog.
Don’t just take our word for it
Caleb
New Zealand
Excellent communication & Advice. Thank you for all your hard work, appreciate the effort Ari put in for us!
Sophie
New Zealand
Blake provided professional, proactive and helpful advice throughout the mortgage application and home purchasing process. As a first home buyer, he provided invaluable insights and knowledge into the processes involved, empowering me to put my best foot forward and make informed decisions along the way. I really appreciated Blakes approachable and supportive communication, and the user friendly application process that Squirrel provides made applying to and comparing multiple banks easy and straightforward.
Henry Siwanzi
New Zealand
Tessa was amazing in guiding us through the process of purchasing our first home. Working with us from over a year before we made the purchase to get our finances in order before helping us make the purchase when we found the right house.
Viliame
New Zealand
As first-home buyers, we truly appreciated Sudam's guidance, patience, and clear communication every step of the way. He made what initially felt like a stressful process much smoother and much easier to understand. We're very grateful for all the effort Sudam put into helping us secure the right loan structure and competitive rates. Reaching this milestone is incredibly exciting for us, and we're glad to have had his support throughout the entire journey. Thank you, Sudam, for helping make our dream of homeownership a reality.