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Evidence · Home lending

The questions and original answers

Explore every question and captured response in the home-lending study, including answers asked nationally and from four cities.

questions
193
captured answers
1,094
AI platforms
4
collected
11 October 2026

01

Every question, with its answers

Each question was written as a voter would ask it and went to all four assistants. Some were also asked from a town. Open a question to read every answer to it in full.

Showing 20 of 193 questions

Show all 193

02

The tables behind the study

Every figure on the study page comes from these tables. They are CSV files, which open in any spreadsheet.

  • Question catalogue

    questions.csv

    One row per question.

    Question ID, borrower, exact question, group and collected answers

    193rows

    Download question catalogue (CSV)

  • Answers

    answers.csv

    One row per answer, with its full text.

    Answer ID, question ID, borrower, assistant, city, words, coded recommendations, showed a link and full text

    1,094rows

    Download answers (CSV)

  • Sources by answer

    sources.csv

    One row for each website recorded as a source of an answer.

    Answer ID, question ID, assistant, city, website and publisher type

    4,574rows

    Download sources by answer (CSV)

  • Checks against official sources

    checks.csv

    One row per statement checked.

    Check, answer ID, assistant, what the answer said, verdict, what the source says, source and date

    4rows

    Download checks against official sources (CSV)

  • Recommendation coding

    recommendation-coding.csv

    One row per coded national loan-choice or support answer.

    Answer ID, question ID, borrower, assistant, question group, recommended lenders and supporting passages

    360rows

    Download recommendation coding (CSV)

  • Platform comparisons

    platform-recommendation-counts.csv

    One row per platform, lender and question group.

    Matched panel, recommended answers, denominator and supporting answer IDs

    105rows

    Download platform comparisons (CSV)

  • City comparisons

    city-recommendation-counts.csv

    One row per city, lender and question group.

    Matched panel, recommended answers, denominator and supporting answer IDs

    112rows

    Download city comparisons (CSV)

Use these tables to trace findings back to the original questions and answers. The full text of each answer is also on this page, under its question.

03

Read in full and checked

Some answers were read in detail or checked against official sources. Those appear on the study page, beside the findings they support.

ChatGPT · National

I'm about to refix my home loan. Is it worth splitting it across different fixed terms if I want fairly steady repayments?

Yes — splitting your New Zealand home loan across different fixed terms can be a good way to keep repayments relatively steady, especially if you want to avoid having your entire mortgage come up for refixing at once.

The key is that splitting helps smooth out the timing of interest-rate changes. It doesn't guarantee lower interest costs or completely stable repayments.

How splitting your mortgage works

Say you have a $600,000 mortgage. Instead of fixing the whole amount for one year, you could divide it into three portions.

Illustrative example — $600,000 mortgage

$200,000 · 1-year fixed

Short term

Refixes first, giving you an earlier chance to benefit if rates fall.

$200,000 · 2-year fixed

Provides a middle ground between flexibility and certainty.

$200,000 · 3-year fixed

Locks in a larger share of your repayments for longer.

When each portion expires, only that portion needs to be refixed, so a rate change affects part of your mortgage at a time.

You don't need to use three portions, either. Two different terms can provide a useful balance without making your mortgage unnecessarily complicated.

The main benefits and drawbacks

Benefits Trade-offs
Less of your loan is exposed to a rate change at once You may not get the lowest total interest cost
Some repayments stay protected by longer fixed terms You need to keep track of multiple refix dates
You can take advantage of falling rates on the shorter-term portion Switching banks can be harder when loan portions expire at different times
You can spread the risk of choosing a single fixed term You may miss out if rates fall and you've locked in for longer

These trade-offs are consistent with guidance from Sorted NZ and ANZ NZ. Types of mortgages in New Zealand, and how to choose » SortedThe benefits of splitting your home loan104
4.108 The very high proportion of 1-3 year fi

What I'd consider if steady repayments are your priority

I'd look at two or three fixed portions, with a meaningful share on a longer term.

  • For maximum certainty: Fix most or all of the mortgage for the same longer term. This gives you the simplest budgeting, although the entire loan will be exposed to rates when that term ends.
  • For a balance of certainty and flexibility: Split between a shorter and a longer term, such as one and two years.
  • For more gradual refixing: Use a mix such as one, two and three years, accepting the extra administration.

One important point: splitting your loan doesn't necessarily make your repayments perfectly steady. When a portion expires, its new rate can push your total repayments up or down. If you have a tight budget, choose a structure that you could still afford if rates were higher at the next refix.

Also check whether you might move house, make a large lump-sum payment or switch lenders soon, because multiple fixed terms can make those changes more complicated.

Let's make this specific to your mortgage

I can help you compare a couple of structures based on your actual situation. Three details would make the biggest difference:

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

I'm about to refix my home loan. Is it worth splitting it across different fixed terms if I want fairly steady repayments?

Yes, splitting your home loan across different fixed terms (often called a mortgage ladder or tiered structure) is a popular strategy in New Zealand specifically designed to smooth out repayment shocks and provide steady, predictable cash flows.

If your primary goal is to maintain fairly steady repayments while avoiding the gamble of having your entire mortgage mature at once, splitting is definitely worth considering.

How Splitting Across Terms Works (The Ladder Approach)

Instead of putting 100% of your loan onto a single term (like a 1-year or 2-year fix), you divide the total balance into two or three portions. For example, a common structure is:

  • One-third fixed for 1 year
  • One-third fixed for 2 years
  • One-third fixed for 3 years

When a portion expires each year, you refix it. Over time, this creates a rolling average interest rate, insulating you from the full impact of a sharp market spike in any single year.

The Pros: Why it helps with steady repayments

  • Reduces Repayment Shock: If your entire mortgage is on a 1-year term and interest rates jump when it expires, your new repayments spike all at once. With a split structure, only a fraction of your loan rolls over at any given time. Any rate adjustment is absorbed gradually across your overall budget.
  • Hedging Your Bets: No one can reliably predict where interest rates are heading. Splitting ensures you never accidentally lock your entire debt in at the absolute peak or miss out entirely if rates drop.
  • Built-in Flexibility: As each portion naturally matures, you have a regular window to make lump-sum principal payments or restructure your loan without triggering costly bank break fees.

The Cons: What to watch out for

  • Administrative Complexity: Managing multiple tranches means tracking different maturity dates. However, most retail banks in New Zealand (like ANZ, ASB, BNZ, Kiwibank, and Westpac) handle this seamlessly within their online banking platforms once set up.
  • Potentially Missing the "Best" Rate: If short-term rates happen to be significantly lower than long-term rates, having a portion locked into a higher long-term rate means you won't enjoy the full savings immediately.
  • Structuring Constraints: Banks usually have minimum split amounts (often around $10,000 per split tranche), so breaking a very small mortgage into four or five pieces might not be practical.

Suggested Action Plan for Your Refix

If you want to move forward with a split structure, consider taking these steps with your lender or a mortgage adviser:

  1. Assess your total borrowing amount: Review your total mortgage balance to determine how many logical splits you can make (typically 2 or 3 tranches work best for average loan sizes).
  2. Determine your risk tolerance split: Decide on a ratio that matches your need for steady budgeting. For instance, a balanced approach might be 50% on a 1-year term and 50% on a 2-year or 3-year term.
  3. Check for bank fees: Ask your current bank if they charge any setup or ongoing fees for managing multiple fixed portions (most major NZ banks do not charge extra for standard splits, but it is always wise to confirm).
  4. Mark your calendar: Note down the expiry dates for each tranche so you can review market rates 4 to 6 weeks before each portion matures.

Would you like to explore what a split structure might look like based on a specific loan amount or term preference?

Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

Google AI Mode · National

I'm about to refix my home loan. Is it worth splitting it across different fixed terms if I want fairly steady repayments?

Yes, splitting your home loan across different fixed terms (and potentially a small floating or revolving credit portion) is a very common and effective strategy in New Zealand if your main goal is smoothing out cash flow and avoiding payment shock.

Instead of an "all-or-nothing" approach where your entire mortgage rolls over on a single day, splitting creates a rolling staggered maturity structure. [Mortgage Express NZ]

How a Staggered Split Works

Imagine you split your mortgage into three equal portions:

  • One-third on a 6-month or 1-year term.

  • One-third on an 18-month or 2-year term.

  • One-third on a 3-year term.

When the first portion matures, only that specific chunk is refixed at the current market rates. If interest rates have spiked, you only feel the pain on one-third of your total debt rather than 100% of it. Over time, your overall interest rate effectively becomes an average of the market over a multi-year cycle. [Mortgage Express NZ]

The Pros of Splitting Across Fixed Terms

  • Smoother Repayments: It prevents severe "payment shock." If you fix everything for 1 year and rates jump right when it expires, your whole budget gets upended at once. Splitting flattens those sharp peaks and troughs. [Mortgage Express NZ]

  • Hedge Against Timing the Market: No one can reliably predict where interest rates are heading. Splitting means you never accidentally fix your entire life savings/debt at the absolute peak of the market. You always have portions maturing regularly to catch new rate trends. [Mortgage Express NZ]

  • Built-in Flexibility Milestones: Because a portion of your loan matures every 6, 12, or 24 months, you regularly get a "window" to make large lump-sum repayments, change your structure, or shift strategies without paying hefty bank break fees.

The Cons & Things to Watch Out For

  • Administrative Complexity: Managing multiple loan portions means keeping track of multiple expiry dates, and your bank may charge minor setup or restructuring fees for maintaining multiple split accounts.

  • Missing the Bottom: Just as splitting protects you if rates peak, it also means you won't get the full benefit immediately if rates plummet, because a large portion of your debt will still be locked into higher, older fixed rates.

  • Potentially Higher Short-Term Rates: Banks sometimes price shorter-term fixed rates differently than longer-term ones. You might find yourself locked into a slightly higher or lower rate bracket depending on the current yield curve.

If you'd like to tailor this, tell me:

  • Roughly how much time is left on your current term or when it expires
  • Whether you want to mix in a floating/revolving portion for extra principal payments
  • Your preferred overall timeline (e.g., sticking strictly to terms under 2 years)

I can help map out a sample split structure for your next refix.

Ask anything

Captured 11 October 2026

AI Overviews · National

I'm about to refix my home loan. Is it worth splitting it across different fixed terms if I want fairly steady repayments?

AI Overview

Yes, splitting your home loan across different fixed terms is a highly effective way to achieve steady, predictable repayments over time. Instead of risking a massive, abrupt spike in repayments when a single large loan expires, a split mortgage structure staggers your renewal dates. This shields you from the full impact of an adverse interest rate cycle at any one moment.

Why Staggered Fixed Terms Create Stability

  • Smooths Out "Rate Shock": If interest rates spike, only a portion of your mortgage rolls over onto the higher rate. The remaining portions continue running at their locked-in rates, insulating your household cash flow.

  • Averages Your Costs Over Time: Known as "rate-laddering," this method behaves similarly to dollar-cost averaging. You capture an average of the market's high and low interest cycles rather than gambling on a single perfect timing window.

  • Creates Periodic Review Windows: As each portion expires (e.g., every 12 to 24 months), you gain an explicit window to make accelerated lump-sum payments or change your strategy without paying early break fees.

Step-by-Step Strategic Frameworks for Kiwi Borrowers

When constructing a split loan structure in New Zealand, three common frameworks balance predictability against flexibility:

Strategy Structure Example Best Used For
The Balanced Ladder Split the loan into 3 equal parts:
• 1/3 fixed for 1 Year
• 1/3 fixed for 2 Years
• 1/3 fixed for 3 Years Borrowers seeking the ultimate middle ground for long-term predictability. Every year, exactly one portion matures and gets refixed.
The Downward Trend Play Split the loan into 2 unequal parts:
• 70% fixed for 6 to 12 Months
• 30% fixed for 2 Years Borrowers who prioritize near-term flexibility because they anticipate falling interest rates and want to roll the bulk of their debt lower soon.
The Hybrid Growth Plan Split the loan into 3 targeted parts:
• 80% fixed for 1 to 2 Years
• 15% fixed for 3 to 5 Years
• 5% on a Floating or Revolving Credit portion Families needing high day-to-day stability on their base debt, but wanting a flexible floating pool to pay down faster using bonuses or savings.

Crucial Blind Spots to Consider Before Refixing

  • Beware of Multiple Account Fees: Check if your bank charges a separate monthly or annual account-keeping fee per loan portion. Splitting a single loan into too many segments can erode your interest savings via administrative fees.

  • Reduced Refinancing Leverage: If you split your loan across mismatched maturities (e.g., one expires in 2027 and another in 2029), it becomes difficult to switch banks for a better deal. Breaking a fixed term early frequently incurs costly early repayment break fees. This effectively locks you to your current lender until all portions naturally align.

To help tailor a specific split structure for your home loan, feel free to share:

  • Your total loan balance and your current lender

  • Whether you anticipate changes to your income or expenses soon (e.g., new job, growing family)

  • Whether you intend to sell or renovate the property in the next few years Refixing and refinancing your mortgage – what’s the difference?Key Considerations When Refixing Your Mortgage

Ask anything

Captured 11 October 2026