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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

What's the best bank for bridging finance if we buy our next home before selling?

For New Zealand, I’d start with your existing bank, then compare BNZ and ANZ for bridging finance. The best bank will depend on how much equity you have, whether your current home is already on the market, and how comfortably you can afford both properties until the sale goes through.

Bridging finance lets you buy your next home before selling your current one. The key is to find a bank that will approve the total borrowing, offer manageable repayments during the overlap, and give you a workable exit plan once your existing home sells.

Which banks would I compare first?

1. BNZ — best starting point for an unsold home

BNZ clearly explains both open bridging (buying before your home is sold) and closed bridging (your sale is already unconditional). Its guidance also covers affordability, realistic sale valuations and backup plans. That makes it a good first conversation if you haven't sold yet. How bridging finance works

BNZ bridging finance guide

2. ANZ — worth comparing for a structured loan

ANZ offers bridging finance and can assess whether you can afford both loans during the transition. Ask for a written quote showing the interest rate, loan structure and repayment requirements. Bridging Finance

ANZ bridging finance

3. ASB — especially if you're already a customer

ASB may be able to keep your existing home loan and arrange additional lending for the new property. This is worth exploring if you have a fixed-rate mortgage you don't want to restructure unnecessarily. Bridging finance - Buying & selling at the same time

ASB buying and selling guide

4. Westpac — another option for existing borrowers

Westpac says it may be able to increase your existing home loan temporarily or arrange bridging finance. Compare its proposal with your current lender's offer. Options with your current home

Westpac options for your current home

These are my suggested banks to approach, not a verified ranking of approval rates or the cheapest bridging interest rates. The published information doesn't establish one universal winner.

What matters more than the bank's name?

  • Open vs closed bridging: If you haven't sold your existing home, you need open bridging. If you've signed an unconditional sale agreement, closed bridging may be more straightforward.
  • Interest and repayments: Ask whether interest-only payments are available on the bridging portion and how much you must pay each month across both properties.
  • How long you have to sell: Check the maximum term and what happens if the sale takes longer than expected.
  • Your fallback plan: Model what happens if the home sells for less than expected or takes several months longer to sell. Settled.govt.nz also highlights the cost and risk of carrying two home loans. Thinking about your finances when sellingHow bridging finance works

Let’s narrow it down to the best option for you

I can give you a more useful recommendation if you share a few figures. Rough estimates are absolutely fine.

Estimates in NZ dollars are fine. Leave any field as-is if you're unsure.

With those details, I can help estimate the likely bridging gap and identify which banks are most worth approaching first. Approval will ultimately depend on the lender's assessment of your income, equity, expenses and sale plan.

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

What's the best bank for bridging finance if we buy our next home before selling?

When purchasing a new home in New Zealand before selling your existing one, "the best" bank for bridging finance is rarely about finding a single standout market leader. Instead, the best bank is almost always your current mortgage provider.

Working with your existing lender minimizes legal friction, avoids cross-security cross-release complications, and streamlines how the temporary peak debt is calculated. However, all major New Zealand major banks (ANZ, ASB, BNZ, Kiwibank, and Westpac) offer bridging finance, though their structures, appetite for risk, and pricing vary.

How Major NZ Banks Approach Bridging Finance

  1. Pricing & Interest Rates

    • Lenders that explicitly publish their framework (such as Kiwibank and TSB) typically price bridging loans at a floating rate roughly 1% p.a. above their standard variable/floating home loan rate.
    • Other major banks (ANZ, ASB, BNZ, Westpac) evaluate bridging finance on a case-by-case basis, often applying a margin over standard floating rates due to the temporary high-risk nature of carrying a "double mortgage".

  2. The "Closed" vs. "Open" Distinction

    • Closed Bridging: You have an unconditional or clearly agreed-upon sale and purchase agreement for your current home, but the settlement date is after you buy the new home. Banks favor this heavily; approval is much easier, and terms are typically granted for up to 12 months.
    • Open Bridging: You haven't sold your current home yet, but you want to buy the new one first. Major banks are exceptionally conservative with open bridging. They will require substantial equity (often 40% to 50% or more across both properties combined) to ensure they are protected if the market dips or your house takes longer to sell.

Comparison of Major Options

Bank / Lender Category Typical Advantage Key Considerations
Your Current Bank (ANZ, ASB, BNZ, Westpac, Kiwibank) • Seamless security discharge.
• Faster internal assessment since they already hold your property titles.
• Avoids discharge/settlement coordination fees between separate institutions.		 • If you have a large fixed-rate portion on your current mortgage, breaking it to structure the bridge can trigger break fees (though some banks waive or reduce these if you refinance the new debt with them).
Tier-2 / Non-Bank Lenders (e.g., First Mortgage Trust, ASAP Finance) • Much higher appetite for "open" bridging or complex timelines.
• Quicker, agile approvals.		 • Significantly higher interest rates and heavier establishment/legal fees compared to major registered banks.

Critical Risks & Costs to Watch Out For

  • The Peak Debt Calculation: The bank will calculate a "peak debt" amount (your existing mortgage + the new purchase price + purchase costs). They must be satisfied that your income can service this peak debt safely, even if only on an interest-only basis for the interim period.
  • Interest-Only Relief: Standard practice for most major banks is to place the bridging portion on interest-only repayments while keeping your current mortgage obligations running, minimizing your monthly cash-flow strain until the old house sells.
  • Cashback Clawbacks: If you are tempted to jump ship to a different bank just to secure a cash--back incentive for the new purchase, check your current bank’s cashback clawback period. Switching institutions mid-stream can trigger a financial penalty where you must repay a portion of the original signup bonus.

Suggested Next Steps

  1. Talk to your current lender first: Request a formal bridging finance scenario breakdown. Ask specifically: "What will our peak debt be, what are the interest-only monthly repayments, and do you charge a penalty or standard floating rate during the bridge period?"
  2. Weigh a "Long Settlement" Alternative: Before committing to expensive bridging finance, ask your real estate agent or lawyer if you can negotiate a long settlement (e.g., 60 to 90 days) on your purchase, or insert a "sale of buyer's property" condition. This avoids bridging finance entirely.
  3. Engage a Mortgage Broker: Because bank policies on open vs. closed bridging shift frequently based on Reserve Bank (RBNZ) lending restrictions, a registered mortgage broker can compare current appetite across ANZ, ASB, BNZ, and Kiwibank at no direct cost to you.

Are you looking at an open bridge (haven't sold yet) or a closed bridge (already have a sale agreement in place)?

Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

Google AI Mode · National

What's the best bank for bridging finance if we buy our next home before selling?

There is no single "best" bank for bridging finance in New Zealand, as your existing mortgage provider is almost always the easiest and most cost-effective option to avoid costly mortgage break fees and duplicated setup hurdles. Major New Zealand lenders—including Kiwibank , ANZ, ASB, BNZ, and Westpac—all offer bridging finance, but they handle pricing, security transfers, and terms differently.

How New Zealand Banks Compare for Bridging Finance

Lender Feature Description & Approach
Kiwibank Most transparent: Publicly discloses its pricing formula (typically standard variable rate plus a 1% margin).
ANZ, ASB, BNZ, Westpac Case-by-case pricing: Do not publicly list bridging rates; require a bespoke broker or direct banker quote.
ASB / Westpac / BNZ Security transfers: Allow you to transfer or substitute your current mortgage security onto the new property to preserve low fixed rates where possible.

Key Factors in Choosing a Lenders

  • Staying with your current bank: If you are partway through a low fixed-rate term, your current bank may allow a "substitution of security" (ASB) or "security transfer" (BNZ) without forcing you to break your current mortgage and incur massive break fees. [Simpler Mortgages]

  • Open vs. Closed Bridging: If your current home is already sold unconditionally (closed bridging), most banks will approve it seamlessly with standard variable pricing. If your current home is unsold (open bridging), criteria are much stricter, requiring 20%+ equity and proof you can service both loans temporarily.

  • Transparency: Kiwibank stands out for clarity because it explicitly publishes its bridging interest rate premium formula (standard variable + 1%), whereas others require negotiation. [Simpler Mortgages]

If you share:

  • Whether your current home is already sold (unconditional) or still on the market
  • Who your current mortgage is with and if you are on a fixed rate

I can help outline the specific approval risks and cost considerations for your situation.

Ask anything

Captured 11 October 2026

AI Overviews · National

What's the best bank for bridging finance if we buy our next home before selling?

AI Overview

In New Zealand, there is no single "best" bank for bridging finance because approval and pricing depend heavily on your personal equity and whether your bridge is open or closed.

All five major New Zealand retail banks—ANZ , ASB , BNZ , Westpac , and Kiwibank —offer residential bridging finance, but their internal policies on servicing limits and risk vary significantly.

1. The Crucial Factor: Closed vs. Open Bridging

Your experience with the banks will differ drastically depending on which category your situation falls into:

  • Closed Bridging (The Bank Favourite): You have already sold your current house, and the contract is unconditional , but the settlement date happens after you take possession of your new home. Nearly all major NZ banks will eagerly approve this. They will generally structure the loan on standard interest-only terms for the gap period (typically up to 12 months).

  • Open Bridging (High Hurdle): You are buying a new home but have not yet sold or gone unconditional on your current home. Main standard retail banks are incredibly cautious with open bridges due to the risk of properties stalling on the market.

2. How the Banks Stack Up

While most main banks keep their maximum limits and pricing hidden behind custom quotes, they generally align on the following structures:

Bank General Approach & Insights
Kiwibank One of the few major banks to publicly detail a clear pricing formula (Standard Variable Rate + 1.00% p.a. premium).
ASB Offers "Substitution of Security" tools which can seamlessly transfer your existing fixed-rate structure over to the new home to avoid costly break fees.
BNZ Routinely offers both closed and open bridging options up to 12 months, shifting the peak debt to temporary interest-only metrics.
Westpac Focuses on flexibility via their "Choices Home Loan" extensions to manage short-term dual properties.
ANZ Will evaluate on a strict case-by-case basis, heavily scrutinising your income to ensure you can technically service "peak debt" if things go wrong.

3. Alternative Options If Banks Say "No"

Main banks look closely at whether you have at least 20% to 50% equity across both properties and whether your income can service the combined debt load. If a major bank declines your open bridging request, non-bank lenders and brokers become your best avenue:

  • Specialist Advisors: Non-bank structures like Squirrel maintain their own internal bridging products precisely for clients that mainstream banks reject.

  • Non-Bank Lenders: Institutional firms like Avanti Finance or ASAP Finance can approve and capitalised interest (roll the interest into the loan so you don't make double payments) within 48 hours, though their setup fees and rates are higher than retail banks. Bridging Loans NZ - Structured for Your NeedsTop 5 Non-Bank Lenders in New Zealand [2026] | Opes Partners

To help give you the most accurate direction, are you looking at a closed bridge (already sold unconditionally) or an open bridge (still need to find a buyer)? If you can also share your approximate equity level , I can pinpoint your best strategy.

Ask anything

Captured 11 October 2026