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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

We're a family moving to a bigger home and may need to buy before our current home sells. What matters most to us is keeping the total cost as low as possible. Which lenders would you recommend for our home loan, and why?

For your situation — buying a bigger home before your current home sells — the lender with the lowest headline mortgage rate is not necessarily the cheapest overall. The biggest cost risks are usually:

  • how expensive the bridging finance is while you own two homes;
  • whether the lender will give you enough flexibility on settlement timing;
  • break fees, application fees, and legal/valuation costs;
  • whether you can negotiate a sharper rate because you have equity and a strong repayment history.

Bridging finance is usually short-term lending that lets you buy before selling, but you need to be comfortable carrying two properties for a period. ANZ Bank

Lenders I would put on your shortlist in New Zealand

1. Kiwibank — best starting point for low-cost borrowers

Why consider it:

  • Often competitive on fixed mortgage rates.
  • A New Zealand-owned bank, which some borrowers value.
  • Can be attractive if your priority is minimising long-term interest costs.

Watch-outs:

  • Compare its bridging terms carefully; a slightly cheaper standard mortgage rate can be outweighed by more expensive transition finance. Some comparisons note Kiwibank’s bridging pricing structure differs from standard lending. MoneyHub NZ

2. TSB Bank — worth checking for sharp pricing

Why consider it:

  • Often competes aggressively for good-quality borrowers.
  • Smaller banks can sometimes be more flexible when trying to win lending.

Watch-outs:

  • Confirm whether the total package (bridge + new mortgage + fees) beats larger banks.

3. BNZ — strong option for a move-before-sale situation

Why consider it:

  • Has a specific bridging finance offering designed for buying a home before selling. BNZ
  • Good digital tools and generally a broad home-loan product range.

Watch-outs:

  • Don’t assume a big bank’s convenience means the lowest cost — negotiate.

4. ANZ New Zealand — strong if you need a smooth transition

Why consider it:

  • Established processes for bridging finance and buying/selling simultaneously. ANZ Bank
  • Large lending capacity can help with more complex situations.

Watch-outs:

  • Large banks often have room to discount rates, but you normally need to ask.

5. ASB Bank or Westpac New Zealand — good comparison options

Why consider them:

  • Both have established pathways for customers buying before selling, including bridging options. ASB Bank
  • Useful if you already bank with them because transferring accounts and security can sometimes simplify things.

My approach if minimising total cost is the main goal

I would not choose one lender immediately. I would run a small “auction”:

  1. Ask 3–5 lenders for a full proposal:

    • new home loan rate;
    • bridging loan rate;
    • all fees;
    • cash contribution (if offered);
    • ability to extend the bridge if your home takes longer to sell.

  2. Include at least:

    • one major bank (ANZ, ASB, BNZ, Westpac);
    • one smaller bank (Kiwibank or TSB);
    • a mortgage adviser who can compare multiple lenders.

  3. Negotiate:

    • “We are comparing offers and choosing based on total cost, not just rate.”
    • Ask them to waive or reduce fees.

A key question for your situation

The cheapest structure may actually be not buying before selling if you can avoid it. Bridging loans add cost because you temporarily carry two properties. MoneyHub NZ

If you share:

  • approximate value of your current home;
  • remaining mortgage balance;
  • expected purchase price of the new home;
  • household income;
  • how long you think your current home would take to sell;

I can help compare what type of lender/loan structure is likely to minimise your total cost.

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

We're a family moving to a bigger home and may need to buy before our current home sells. What matters most to us is keeping the total cost as low as possible. Which lenders would you recommend for our home loan, and why?

Moving to a bigger home while trying to keep your total costs as low as possible requires careful navigation. When you buy before you sell, you typically rely on bridging finance (also known as a tideover or temporary peak debt structure).

Because bridging finance involves holding a "double mortgage" for a short period, it can quickly become expensive. To minimize costs, your choice of lender and loan structure matters significantly.

Which Lenders to Consider in New Zealand

Major retail banks and select non-bank institutions handle bridging finance differently. To keep costs down, consider the following options:

  1. Main Retail Banks (ANZ, ASB, BNZ, Westpac, Kiwibank, TSB)

    • Why consider them: Main banks generally offer the lowest standard floating interest rates. For bridging loans, many main lenders (such as Kiwibank and TSB) price their bridging finance at roughly 1% p.a. above their standard variable rate.
    • Cost-saving advantage: Because their baseline floating rates are tied to the mainstream market, they are typically cheaper overall than specialist non-bank lenders. However, they are strict on serviceability: you must prove you can comfortably cover both mortgages if your house takes longer to sell.

  2. Specialist / Non-Bank Lenders (e.g., Basecorp, Pepper Money, Avanti Finance)

    • Why consider them: Non-bank lenders cater to scenarios where main banks say no (e.g., if your debt-to-income ratio is tight or you need rapid approval).
    • Cost-saving verdict: Avoid if your financials are strong. Non-banks generally carry higher establishment fees and higher interest rates (often ranging from 7.5% to well over 10% for short-term/specialist structures). They should only be used if a main bank turns you down and you are forced to secure the property.

How to Minimize Your Costs (Action Plan)

Choosing the right lender is only half the battle; how you structure the loan dictates your final expense.

  1. Opt for "Closed" Bridging Finance if Possible

    • Action: Try to time your purchase contract so that your current home is already unconditionally sold with a set settlement date before you draw down the new loan (known as a closed bridging loan, usually capped at up to 12 months).
    • Why: Open bridging finance (buying before your home is even on the market or without an accepted offer) carries stricter criteria and higher risk, and lenders may impose penalty rates or higher margins if the property lingers.

  2. Negotiate Interest-Only Terms for the Peak Debt

    • Action: Request that the portion representing your new home is put on interest-only repayments while you manage the transition.
    • Why: This stops you from having to pay full principal-and-interest on both properties simultaneously, significantly lowering your cash-flow pressure each week.

  3. Utilize Existing Equity and Revolving Credit

    • Action: Work with a mortgage broker or your bank's mobile mortgage manager to map out your equity. If you have substantial equity built up in your current home, a lender can often "lend against" that equity to cover the deposit or purchase price of the next home without needing a massive separate high-interest tier.

  4. Factor in Hidden Fees

    • Action: Budget for establishment fees (which can range from $500 to over $1,000 or a percentage of the peak loan amount) alongside valuation fees for both properties.

Next Step

Are you looking to approach a major main bank directly to check your borrowing capacity, or would you like to explore working with a mortgage broker who can compare bridging policies across multiple lenders at no direct cost to you?

Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

Google AI Mode · National

We're a family moving to a bigger home and may need to buy before our current home sells. What matters most to us is keeping the total cost as low as possible. Which lenders would you recommend for our home loan, and why?

When moving to a bigger home and trying to keep the total cost as low as possible during an overlap period, minimizing interest, establishment fees, and avoiding costly bridging finance or break fees is critical.

Instead of recommending a single "best" lender, the most cost-effective approach depends entirely on the mechanics of how you structure the move. The primary options and lender considerations available in New Zealand include:

  • The Major Banks (ANZ, ASB, BNZ, Westpac):

  • Why consider them: They offer formal bridging finance or allow a "security transfer" / "substitution of security" (moving your existing mortgage and fixed rate directly to the new property without breaking the contract). If you can transfer your current low fixed rate to the new house, you save thousands in break fees.

  • The catch: Formal bridging loan interest rates are often priced higher than standard rates (frequently standard variable plus a margin), and setup/valuation fees apply. You must negotiate hard or use a broker to waive administrative costs.

  • New Zealand-Owned and Challenger Banks (Kiwibank, TSB, SBS Bank, The Co-operative Bank):

  • Why consider them: TSB features a proactive competitive stance (historically offering "rate beat" promises against the major Aussie-owned banks), and institutions like Kiwibank or The Co-operative Bank often keep standard and special fixed rates aggressive with lower fixed/floating establishment fees.

  • The catch: Their appetite or flexibility for complex, extended bridging scenarios can sometimes be more conservative than the major tier-1 banks, requiring careful manual approval of your dual-property timeframe.

Strategies to Keep Total Cost Low

  1. Prioritize a Security Transfer: Ask your current lender if you can transfer your existing security rather than taking out a brand-new bridge loan or breaking a fixed term. Keeping an existing low fixed-rate term alive on the new property is almost always the cheapest route. [Simpler Mortgages]
  2. Minimize the Overlap Window: The absolute biggest driver of cost in a "buy before you sell" scenario is the duration of the overlap. Paying interest on two large sums simultaneously—even at a low rate—accumulates rapidly by the week.
  3. Utilize a Mortgage Broker: Because public bridging rates are rarely advertised transparently by major banks, utilizing a registered mortgage adviser allows you to pull comparative, unadvertised policy exceptions or discounting across multiple lenders simultaneously at zero direct cost to you.

To help narrow down which specific lender or structure fits best, could you share:

  • Roughly how long you expect the overlap to be between buying and selling?
  • Whether you are currently fixed on a low interest rate with your existing bank?
Ask anything

Captured 11 October 2026

AI Overviews · National

We're a family moving to a bigger home and may need to buy before our current home sells. What matters most to us is keeping the total cost as low as possible. Which lenders would you recommend for our home loan, and why?

AI Overview

Major mainstream New Zealand banks (such as Kiwibank, Westpac, ASB, and BNZ) offer the lowest-cost option for bridging finance when you need to buy a home before selling your current one.

Why Mainstream Banks Are the Lowest-Cost Option

  • Standard Variable/Floating Rates: Mainstream banks typically price bridging loans at their standard variable/floating home loan rate (or with a small premium around 1% p.a. above the variable rate), which is significantly cheaper than specialist or non-bank short-term lenders who charge higher risk margins and establishment fees.

  • Interest-Only Flexibility: During the bridging period (typically structured as either a "closed" bridge where a sale is already signed, or an "open" bridge where your home is still on the market), payments are usually interest-only, meaning you do not pay down the principal until your current house sells.

  • Security Transfer Options: If you stay with your current bank, some major banks allow you to transfer or "substitute security" (moving your existing loan structure/rates to the new property), which can avoid heavy fixed-rate break fees.

Key Lender Approaches in New Zealand

  • Kiwibank: Often features competitive baseline special rates and transparent bridging formulas (typically standard variable rate plus 1%).

  • Westpac & ASB: Competitive short-term fixed and variable pricing, though bridging terms and open/closed criteria are evaluated case-by-case via direct quotes. Current mortgage interest rates in NZ [2026] - Opes PartnersMoving House NZ – Bridging Loans Made Simple | Simpler

  • BNZ & TSB: Provide clear guidance on closed versus open bridging policies and allow flexible equity structuring, though they require a formal assessment of your debt-servicing capacity for both mortgages simultaneously.

Important Cost-Saving Strategies Before You Apply

  • Aim for a "Closed" Bridge: If you can sign an unconditional sale agreement on your current home with a settlement date timed closely after your new purchase, a closed bridging loan is much easier to get and carries far less risk of a blowout in interest costs.

  • Watch the Serviceability Test: Banks stress-test your income at higher test rates (roughly 6.85% to 7.10%) to ensure you can afford both mortgages if your old house takes longer to sell.

  • Use a Mortgage Adviser: Policies on open bridging vary heavily, and major banks sometimes decline open bridging outright; a local mortgage broker can shop your scenario across multiple banks simultaneously without hurting your credit profile.

To help narrow down the best path, could you share:

  • Whether your current home is already listed or under contract?
  • Roughly what your equity/deposit position looks like across both properties?
Ask anything

Captured 11 October 2026