Refixing your mortgage? Watch our latest update first
When your fixed term’s up, it’s a good time to check if your mortgage still works for your lifestyle. We’ll help you refix with the right rate and structure — one that actually fits where you're at now.
Before you lock anything in, check out our latest video to hear what's going on with interest rates. If you want to dig deeper, check out our Guide to Refixing packed with tips and tricks or reach out to your adviser.
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.
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 interest rates can help guide your next move
One of the questions we get most is...what’s the “best” term to fix for?
We wish it was that simple. But the truth is there’s no single best strategy when it comes to a mortgage refix – and that’s because where we’re at in the interest rate cycle makes a real difference. It's not about picking the perfect time, it's about making a smart choice for where you're at now.
Check out our latest video - we'll help you figure out what works best.
Best advertised rates by term
6 Months fixed
4.49%
12 Months fixed
4.49%
18 Months fixed
4.75%
2 Years fixed
4.89%
Revolving
5.75%
Floating
4.99%
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.
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.
When it comes to refixing, it's about making sure your mortgage still works for you
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. Try our repayment calculator to see for yourself.
Let's review your mortgage
It could make a huge difference - and it's free!
Get the ultimate guide to refixing
We've pulled together all our best refixing, refinancing and restructuring hacks to help you master your mortgage – and likely save yourself thousands.
How to pay off your mortgage faster and save money while you're at it
The thing about interest is that it compounds. When you’re saving money, you earn interest on the interest and so on. When you’re repaying a mortgage, this works in reverse – the less you owe, the less interest you pay. Simply put, small increases in your regular repayments will have a massive impact in reducing your interest costs in the long run.
So, what can you do to reduce your mortgage term?Quite a bit, actually. Even small tweaks can have a huge impact overall. Here are a few of our top tips:
Quite a bit, actually. Even small tweaks can have a huge impact overall. Here are a few of our top tips:
Increase the amount of each payment
Regularly paying a bit more (even $20 extra per week) can make a significant difference over the lifetime of your loan. Constantly review your budget and see if there are any expenses you can cut down on. Save that daily coffee from the local cafe for retirement!
Divert any increases in pay or bonuses to your mortgage
As soon as you receive a bonus or get a pay rise, pat yourself on the back and then send the additional funds directly towards your mortgage. Sticking to your budget and putting the extra income into the house will help you to cut down the debt without you even noticing.
Continue paying the same amount, even if your interest rate drops
It can be tempting to reduce your payments if interest rates drop. Continuing to pay the same amount will help you out in the long term, especially when the rates rise again. Stay strong!
Break it down into bite sized chunks
The sheer size of your mortgage can feel overwhelming. Focus on smaller bits - take a chunk of $20k or $30k and just focus on paying that off as quickly as you can over a couple of years. That suddenly feels like a more achievable goal.
Pay fortnightly instead of monthly
If your repayments are calculated monthly, choosing to split these into two fortnightly payments is an easy way to help you save. As there are more than four weeks in a month, paying fortnightly could mean that you are paying off an additional month’s worth of mortgage every year, helping you to reduce the principal faster.
Useful information and insights
Learn more about how to structure your mortgage and the benefits it can bring from our blog.
OCR & interest rates update – April 2025
On 9th April, the RBNZ dropped the OCR by a further 0.25% to 3.50%—meaning that now, if you look hard enough, you can almost see that 'neutral' OCR on the horizon. Here's how that could translate through to interest rates, and what all the global volatility going on right now means for us here in New Zealand.
Is it better to fix or float your home loan?
In this article we’re looking at how to pick the right fixed home loan rate term in a rising interest rate environment.
Is splitting your home loan a good idea?
When it comes to your home loan there's more than one way to skin a cat. There are different interest rates, loan structures, add-ons, repayment terms and a number of other options that fundamentally alter the way that you manage and repay your loan.
We work with all the banks
And more options means a better deal for you
Don’t just take our word for it
Scott Mc
New Zealand
We had Adam Clark as our mortgage broker and found him to be very knowledgeable, professional, friendly and helpful throughout our mortgage request and eventual purchase of our awesome property. We have already recommended Adam / Squirrel to family and friends.
Liesel
New Zealand
Squirrel made our home-buying journey a breeze. Professional, friendly, and they really know their stuff. If you're looking for a broker that goes the extra mile, these are the guys
Jordan
New Zealand
Working with Blake on refinancing was seamless and we were kept in the loop at every stage. Thanks Blake!
Brylea
New Zealand
I honestly didn't think we were able to get a mortgage or a house. Blake Neve made this possible and fulfilled the ultimate dream for us. Blake is patient, willing to answer any questions under the sun and is externally supportive. I would recommend him over and over again!