Mortgage | First Home Loans | Refinance | Calculate Repayments2018-06-12T10:26:38+00:00
Best Mortgages and First Home Loans For New Homes Flagstaff Hamilton

Mortgage, First Home Loan or Refinance

Getting the deposit together for a mortgage to purchase your new home, or your first home loan should be a positive and exciting experience.

We compare mortgages from New Zealand’s largest and most competitive mortgage lenders, banks and credit unions to ensure you get a better interest rate.

Real Estate agents have open homes and while you are out looking for the perfect family home, we do all the hard work for you: check for the best bank deals and get you finance approved with the best lenders.

After all, as a homeowner paying off a mortgage over 20 or 30 years is probably one of the most significant financial investments most of us will do.

And a dollar saved in interests leads to in quicker repayment of mortgage and interest.

Depending on your financial situation, you can use KiwiSaver to finance the 10% or 20% deposit or downpayment of your mortgage.

Or if you have been in the property market for a while, capital gains and increasing assets help you grow your KiwiSaver for retirement.

And your growing assets meaning you can freehold your property much sooner.

More money in your pocket.

Doesn’t it make sense then to compare best mortgage lenders and banks in New Zealand?

Compare fixed rate home loans to floating rate home loans. Be it for refinancing or your first home loan.

I think so.

Our holistic approach also includes looking at your most significant asset; your ability to earn an income, protect your liabilities and thereby grow your assets.

what is a mortgage and how does it work?

A mortgage is a loan for a home or real estate and is known as the principal. Each month, part of your monthly payment will go toward paying off that principal, or mortgage balance, and part will go towards interest on the loan, which is what the lender charges you for lending you money.

Floating Rate Home Loans or Fixed Interest Rate Home Loans

When you and I borrow money from banks and credit unions, for a mortgage or first home loan, we are expected to pay interest.

The Reserve Bank of New Zealand uses the Official Cash Rate (OCR) in two ways to influence the short-term interest rates that you and I are offered by banks and credit unions.

Watch this short video to learn about mortgages and home loan interests and how The Reserve Bank influences your dream of owning a home.

Floating Rate Home Loans

A floating rate loan is also known as a variable rate loan.

A variable interest rate home loan is affected by economic conditions both within New Zealand and around the world, so you can expect your home loan repayments to rise and fall over the term of your loan.

With a floating home loan, your interest rate can go up and down in line with market conditions.

You also have the flexibility to repay your loan at any time without cost.

A floating interest rate home loan may suit you if you want the control of making periodic payments but also the flexibility to increase these and make extra repayments at any time.


  • Flexibility to make extra repayments without fees
  • Drawdown funds as a lump sum or instalments
  • Switch to a fixed interest rate at any time
  • Interest only and payment holiday options available


  • Your home loan repayments will rise when interest rates rise
  • If interest rates rise quickly, your home loan repayments might be more than if you mortgaged your house with a fixed interest rate home loan
  • If you have borrowed at or near your repayment capacity, it is risky if interest rates do rise
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Floating Rate Home Loans Market Overview

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Fixed Interest Rate Home Loans

With this loan, you keep the same interest rate and make the identical payments for a selected period.

A fixed interest rate loan may make it easier for you to manage your finances because you know that your payments won’t change during that term.

Managing your budget may be easier, knowing your interest rate and payment amounts won’t change during the fixed interest rate period.

However, you need to be mindful that a fixed interest rate means limited payment flexibility.

You might like to consider a floating interest rate home loan if you want the flexibility of increasing repayments, or perhaps split your home loan and have a combination of both fixed and floating.


  • Fixed interest rate terms to suit you – from 6 months to 10 years
  • Interest only and payment holiday options available
  • Budget with certainty knowing your payments won’t change for your fixed interest rate term
  • You can increase your regular repayments the rest of your fixed interest rate term


  • Maybe less flexible than a variable home loan rate, limiting additional repayment options and excluding the option to redraw
  • If your circumstances change and you want and/or need to exit the loan early, early exit fees might apply
  • Over the term of your loan, you may end up paying more than if you had selected a variable home loan, even in a rising interest rate market
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Fixed Interest Rate Home Loans Market Overview

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Mortgage & Living Insurance

Does your income service your mortgage?

What would happen if you suddenly became ill and could not work?

Could you still pay your mortgage?

With Mortgage and Living Cover you’ll receive regular payments if you’re unable to work due to sickness or injury to help cover everyday expenses, like mortgage payments.

There are many ways to structure your cover and premiums, allowing you to tailor cover to your needs, lifestyle and importantly, budget!

It’s flexible too, so you can adapt it as your financial circumstances change.

Offering agreed level of cover gives you certainty about how much you could receive if you need to claim – there’s also a more cost-effective option that offsets any other payments you might receive such as ACC.

My team and I work with the best life insurance companies in New Zealand and would love to help you.

Online Mortgage & Home Loan Calculator

Figure out how much your property mortgage repayments will be.

See what a mortgage costs, find out what the repayments might be, or find a quicker way to pay yours off with our mortgage repayment calculator.


Monthly repayments

Forthnightly repayments

Monthly repayments

Loan Amount :


Total you will pay :


Including interest of :


Move slider, to increase repayments, get mortgage free and freehold sooner




House Price


My Deposit


Interest Rate

% p.a.

Loan Term in Years


Payment Frequency






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How we work for you

Figure out how much your property mortgage repayments will be.

See what a mortgage costs, find out what the repayments might be, or find a quicker way to pay yours off with our mortgage repayment calculator.

Apply Now

The lenders, banks and credit unions we work with

some of them are

ASB Home Loans Mortgages
ASB Home Loans Mortgages
Westpac Home Loans
TSB home loans mortgages
Liberty Financial Mortgages
Resimac Home Loans

Mortgage & Home Loan Jargon

Your Content Goes Here

an offer that depends on other factors, e.g. getting a home loan approved (conditional on finance), a satisfactory builder’s report or getting a satisfactory valuation. You or the seller can list as many conditions as you want.

the process of transferring legal ownership of a property from one person to another. This will be handled by your lawyer.

after your offer on a property has been accepted, you might be asked to pay a deposit – often 5-10% of the purchase price. If you’re dealing with a real estate agent, the deposit goes into a trust account operated by the agent. It’s counted as part of your overall payment to the seller. A deposit isn’t compulsory but in most cases is expected.

when you’ve paid your mortgage back to the bank and the bank’s name is taken off the title.

Mortgage & Home Loans – Conclusion

Owning a property and owning a property freehold is one of the greatest financial achievements most of us will do in life.

You can get a home loan at a floating interest rate, at a fixed interest rate, a combination of both or an interest only home loan.

Let our mortgage brokers do the legwork for you.

Let us help you to get the house of your dreams!

Or keep paying rent. And pay someones else’s mortgage.

The bank is happy.

The Landlord is happy.

But are you happy?

As mortgage brokers, we offer our service free of charge and we work with financial institutions like banks and credit unions, who in return pay a commission for the work.

There are many different types of mortgage agreements to choose from when getting a home loan, and it is a good idea to use a mortgage broker, because a mortgage broker understands the market and which lenders and banks are prepared to lend to you based on your financial situation.

The team at LifeCovered is here to serve you.

No hassle and no pressure.

Apply Now