# HL-Q145: Borrower priorities
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 getting good help and advice when we need it. Which lenders would you recommend for our home loan, and why?
Borrower: Family buying before selling
[Study](https://nzbrands.ai/research/banking/home-lending/) · Collected 11 October 2026
## chatgpt
Answer ID: 3a80b8b5-c068-48a2-afcf-326604bf29e3
For your family, I’d prioritise a lender that offers excellent access to helpful people, clear advice and a sensible plan for buying your next home before selling your current one — rather than simply choosing whichever bank advertises the lowest interest rate.
In New Zealand, that situation can involve bridging finance: temporary funding that allows you to own both homes until your existing property sells. You’ll want a lender that can explain the risks, structure the borrowing carefully and keep you informed throughout the process. [Bridging Finance](https://www.anz.co.nz/personal/home-loans-mortgages/buying/bridging-finance/)[Bridging Finance](https://www.moneyhub.co.nz/bridging-finance.html)
My first recommendation would be to speak with an independent mortgage adviser who compares multiple lenders, then shortlist a few banks to assess their service and suitability for your family.
## My recommended lenders to start with
## 1. ANZ New Zealand — my first bank to investigate
First choice to explore
ANZ ranked first among New Zealand's five largest mortgage banks in a 2026 mortgage adviser survey, scoring 75% on overall lender performance. The survey considered factors including helpful lending staff, turnaround times and ease of settlement. [ANZ and non-banks fare well in mortgage broker survey](https://www.interest.co.nz/banking/138526/new-survey-details-how-mortgage-brokers-rank-banks-and-non-banks-and-what-they-want)
ANZ offers bridging finance and access to Home Loan Coaches and Mobile Mortgage Managers, which could be helpful if you want someone to talk you through the process. [Bridging Finance](https://www.anz.co.nz/personal/home-loans-mortgages/buying/bridging-finance/)
Why I'd shortlist it: a strong starting point for responsive lending support and coordinating a move between homes.
[Explore ANZ bridging finance](https://www.anz.co.nz/personal/home-loans-mortgages/buying/bridging-finance/)
## 2. ASB — a strong alternative
ASB ranked second among the major banks in the same 2026 adviser survey, with a score of 71%. [ANZ and non-banks fare well in mortgage broker survey](https://www.interest.co.nz/banking/138526/new-survey-details-how-mortgage-brokers-rank-banks-and-non-banks-and-what-they-want)
ASB offers access to Home Ownership Managers, including meetings at a convenient location or at a branch, as well as guidance for buying and selling a house. [Bridging finance - Buying & selling at the same time](https://www.asb.co.nz/home-loans-mortgages/buying-and-selling-house-guide.html)
Why I'd shortlist it: worth comparing if you value being able to speak with a home-lending specialist and get clear guidance at each stage.
[Explore ASB's buying and selling guide](https://www.asb.co.nz/home-loans-mortgages/buying-and-selling-house-guide.html)
## 3. Kiwibank — a worthwhile comparison
Kiwibank ranked third among the five major banks in the 2026 adviser survey, scoring 70%. [ANZ and non-banks fare well in mortgage broker survey](https://www.interest.co.nz/banking/138526/new-survey-details-how-mortgage-brokers-rank-banks-and-non-banks-and-what-they-want)
Why I'd shortlist it: it gives you another major lender to compare on personal service, loan structure, rates and how comfortably it can support your buy-before-you-sell plan.
[Explore Kiwibank home loans](https://www.kiwibank.co.nz/personal-banking/home-loans/)
## 4. Westpac New Zealand — another bank to test against your needs
Westpac scored 67% in the same survey. [ANZ and non-banks fare well in mortgage broker survey](https://www.interest.co.nz/banking/138526/new-survey-details-how-mortgage-brokers-rank-banks-and-non-banks-and-what-they-want)
Why I'd include it: a competitive written proposal from Westpac gives you another point of comparison, particularly if your existing banking relationship makes the transition easier.
[Explore Westpac home loans](https://www.westpac.co.nz/home-loans/)
These rankings are based on mortgage advisers' views of lender performance, not a direct measure of how satisfied every borrower is with customer service. I'd use them as a starting point rather than a definitive league table.
## The option I'd seriously consider: a mortgage adviser
Because you specifically value getting good help and advice when you need it, I'd put just as much effort into choosing the right mortgage adviser as choosing the bank.
A mortgage adviser can assess your financial position, compare multiple lenders, explain the costs and loan structures, and help manage the application through to settlement. The New Zealand Financial Markets Authority recommends asking advisers why they recommend a particular loan and how they are paid. [Mortgage advice](https://www.fma.govt.nz/consumer/getting-advice/mortgage-advice/)
You can start with the official [FMA guide to mortgage advice](https://www.fma.govt.nz/consumer/getting-advice/mortgage-advice/).
Look for an adviser who:
- Regularly handles families buying a new property before selling their existing home.
- Compares several banks rather than steering you towards one lender.
- Is easy to reach and commits to keeping you updated.
- Explains the risks and total costs in plain language.
- Will review your mortgage after the move, rather than disappearing once the loan settles.
Ask whether they receive different commissions from different lenders, and whether any fees could apply if you change lenders early.
## What matters most when buying before selling?
Bridging finance can help you secure your next home without having to sell first, but you may have to service both mortgages for a period. ANZ specifically highlights affordability and the likelihood and timing of your current home's sale as important considerations. [Bridging Finance](https://www.anz.co.nz/personal/home-loans-mortgages/buying/bridging-finance/)
I'd ask each shortlisted lender to put the following in writing:
| What to ask | Why it matters |
| --- | --- |
| Can we buy before our current home sells? | Confirms whether the lender supports your plan. |
| What would our repayments be while we own both homes? | Shows the pressure on your family budget. |
| What if our current home takes three to six months to sell? | Tests whether your plan has enough breathing room. |
| What happens if we sell for less than expected? | Helps you understand the financial downside. |
| Who will manage our application and answer questions? | Reveals how accessible your support will be. |
| What will the loan cost after our current home sells? | Helps avoid focusing only on short-term bridging costs. |
## My overall recommendation
I'd start with ANZ and ASB, compare Kiwibank as another option, and use a mortgage adviser to check whether Westpac or another lender offers a better fit for your circumstances. I wouldn't choose a lender solely on these rankings or on a cashback offer.
To make this recommendation more specific to your family, there's one important question:
Do you currently have your home loan with one of the major banks, and if so, which one?
That will help me weigh up the benefit of staying with your existing bank against the potential advantages of switching, especially for a buy-before-you-sell arrangement.
---
## gemini
Answer ID: 7772bf63-d596-46ef-a1eb-26a5d72c4078
Moving house is a stressful process, and buying before selling adds an extra layer of complexity—often requiring **bridging finance** (a short-term arrangement that covers the gap between buying your new home and selling your current one).
Because your priority is **getting good help, guidance, and responsive advice**, looking exclusively at retail bank counter staff might leave you feeling like "just another number" through a rigid automated credit assessment. Instead, consider how to approach lenders and advisers in New Zealand to get the personalized support your family needs.
---
## 1. Major Banks vs. Non-Banks for Bridging Finance
All major New Zealand lenders (including **ANZ, ASB, BNZ, Westpac, and Kiwibank**) offer bridging finance (frequently structured as an interest-only top-up or "tideover" loan secured against both properties).
* **The Major Banks (Tier 1):** Generally offer the most competitive floating/variable interest rates for bridging (often around their standard variable rate or a minor margin above it), but their credit approval processes can involve rigid paperwork and strict debt-servicing tests. If your current home takes longer to sell, banks can become inflexible.
* **Specialist / Non-Bank Lenders (Tier 2):** Lenders like *Xceda* or *Resimac* offer specialized bridging solutions with more flexible criteria. While their interest rates can be higher, they are often much faster and more accommodating if your situation doesn’t neatly fit standard box-ticking criteria.
---
## 2. Recommendation: Use an Independent Mortgage Adviser
For a complex move like buying before selling, **the specific lender matters less than the quality of the adviser guiding you through it.** Navigating loan portability (transferring your current fixed rate to avoid break fees), closed vs. open bridging, and cashflow buffers requires expert structuring.
Top-rated advisory networks and independent groups in New Zealand—such as **Squirrel**, **Global Financial Services**, or highly rated local advisers—frequently provide superior guidance compared to walking into a single bank branch because:
1. **They compare multiple lenders simultaneously:** They aren't restricted to pushing one bank’s products and can tell you which major bank or non-bank has the most appetite for bridging finance at that exact moment.
2. **They handle the heavy lifting:** They manage the bank negotiations, valuations, and risk paperwork, shielding you from unnecessary red tape.
3. **They are free for home loans:** In New Zealand, mortgage advisers are typically paid commission by the lender once the loan settles, meaning their advisory service costs you nothing out of pocket.
---
## 3. Financial Simulation: Visualizing a Home Transition
When buying before selling, your short-term cash flow will temporarily handle two sets of commitments (or higher interest-only bridging payments) until the old house clears.
The simulation below models a long-term trajectory or transition scenario. You can adjust the parameters (such as starting loan balances, extra monthly contributions, or time horizons) to see how debt scales over time.
```json
{
"labels": {
"currencySymbol": "$",
"title": "Home Loan & Transition Modeling",
"xAxis": "Years",
"yAxis": "Remaining Loan Balance",
"slidersTitle": "Adjust mortgage parameters",
"footerNote": "*Projections based on standard amortization over your selected timeline."
},
"xParam": "years",
"params": [
{ "key": "initial", "label": "Total Mortgage Debt", "value": 650000, "min": 200000, "max": 1200000, "step": 10000, "format": "currency" },
{ "key": "monthly", "label": "Monthly Repayment", "value": 4500, "min": 1000, "max": 10000, "step": 100, "format": "currency" },
{ "key": "rate", "label": "Average Interest Rate (%)", "value": 6.2, "min": 3, "max": 12, "step": 0.1, "format": "percent" },
{ "key": "years", "label": "Time Horizon (Years)", "value": 25, "min": 5, "max": 30, "step": 1, "format": "years" }
],
"series": [
{
"key": "balance",
"label": "Remaining Balance",
"colorVar": "--chart-1",
"fill": true,
"formula": "rate > 0 ? Math.max(0, initial * Math.pow(1 + rate/100/12, t*12) - monthly * ((Math.pow(1 + rate/100/12, t*12) - 1) / (rate/100/12))) : Math.max(0, initial - monthly * 12 * t)"
}
],
"summary": [
{ "label": "Starting Debt", "value": "initial", "format": "currency" },
{ "label": "Interest Rate", "value": "rate", "format": "percent" },
{ "label": "Projected Balance at Horizon", "value": "balance", "format": "currency", "colorClass": "positive" }
]
}
```
---
---
## ai-mode
Answer ID: 528c3330-1979-46d7-a793-d3bc89addc96
**The major New Zealand retail banks—ANZ, ASB, BNZ, Westpac, and Kiwibank—are all well-equipped to handle bridging finance when you need to buy before selling, but your best experience for personalized help and advice will often come through using an independent registered mortgage broker rather than going direct to a single bank.**
When you need a bridging loan (either a "closed" bridge with a set sale date or an "open" bridge where your current home is yet to sell), policies, equity requirements, and risk appetites vary significantly across lenders.
Major Lenders and How They Approach Bridging Finance
* **ANZ:** Offers robust structured bridging solutions, but approval requires tight proof of equity and conservative valuations on both properties. Going direct means dealing with their specific mobile mortgage managers, whose availability can vary by region.
* **ASB:** Known for user-friendly digital tools and mobile bankers, ASB provides clear guidelines on peak debt calculations (the combined debt of both properties), but they assess serviceability strictly against your ability to carry both mortgages if the sale takes longer than expected.
* **BNZ:** Offers competitive turnaround times and flexible bridging structures, though their appetite for "open" bridging (where your house isn’t on the market yet) is conservative, usually requiring your current home to be listed under an agency agreement.
* **Westpac:** Provides comprehensive bridging options with dedicated mobile managers, but they look very closely at your contingency buffers and cash flow during the transition period. [MoneyHub NZ]
* **Kiwibank:** Often praised for accessible customer service and straightforward lending criteria, Kiwibank handles residential bridging up to 12 months, though like others, they require solid evidence of sufficient surplus equity (typically 20% or more across the combined portfolio).
Why a Mortgage Broker is Recommended for Advice-Seekers
Because your priority is getting **good help and advice** , working with an independent mortgage adviser (such as those featured through resources like [Squirrel Mortgages](https://squirrel.co.nz/mortgages/) or local adviser networks) is usually superior to approaching a single bank.
* **Unbiased Comparison:** A broker is not tied to one lender's policy. They know which bank currently has a higher risk appetite for bridging finance or more flexible serviceability rules for dual-property ownership.
* **Advocacy:** They present your application in the best light to the bank's credit committee, navigating the complexities of peak debt calculations and valuations.
* **Cost:** Using a residential mortgage broker in New Zealand is generally free to you, as the lender pays the commission upon settlement.
If you'd like to narrow this down, tell me:
* Whether your current home is **already listed on the market**
* Your estimated **equity position** (do you have more than 20% equity across your current home?)
I can help outline what financial buffers or documentation you will need to prepare for a bridging application.
---
## ai-overviews
Answer ID: 5b393428-272c-4841-9629-df0d7110e8ef
When you buy a new property before selling your current one, you require what New Zealand lenders call **open bridging finance**. Because you value **high-quality help and personalized advice** above all else, navigating this complex product requires specialized assistance. Mainstream NZ banks treat open bridging as a high-risk product and hold extremely strict serviceability tests.
Because expert guidance is your top priority, **my primary recommendation is to use a reputable Mortgage Broker (Adviser) rather than applying directly to a single bank.**
* * *
The Advisor Route: Your Best Option for Hands-On Help
Since matching your family with the right lender depends completely on how a bank calculates your "peak debt" (the total combined debt of both houses before the old one sells), an independent advisor will manage the heavy lifting for you.
* **Why this gives you the best advice:** Large adviser networks like Loan Market NZ or specialized firms like Squirrel have access to all major banks and non-bank lenders. They map out the exact application layout to ensure you don't get a flat rejection.
* **Cost-benefit:** Their advisory services are typically free to you (as they are paid by the lender via commission). They ensure your bridging terms are structured appropriately—such as requesting interest-only repayments to preserve your family's short-term cash flow.
* * *
If You Prefer to Deal Directly with a Major Bank
If you prefer to work directly with a main retail bank, the big four retail players handle open bridging differently. Based on your desire for strong advisory support, here is how they compare:
Bank| Approach to Bridging & Help Level| Pricing Structure
---|---|---
**BNZ**| **Highly Recommended for Support.** Known for providing tailored guidance via mobile mortgage managers to structure short-term lending safely.| Custom floating rates tailored to the profile.
**ANZ**| Offers a structured "tideover loan". Excellent customer service but very conservative with un-sold properties.| Standard floating rate (discounts explicitly removed for bridging).
**ASB**| Provides short-term bridging, but prefers existing customers and requires heavily documented exit pathways.| Not publicly disclosed; case-by-case.
**Westpac**| Structures via short-term interest-only increases, but navigating their internal policy updates usually requires a dedicated manager.| Case-by-case floating rates.
* * *
The Crucial "Hidden Costs" of Open Bridging in NZ
Before making an application, be aware of the financial impact unique to buying before selling:
* **The Equity Buffer:** Most NZ banks will require you to hold at least **20% usable equity** across the combined value of both properties.
* **Interest Rates:** Bridging terms are almost exclusively placed on **floating interest rates** , which are significantly higher than standard fixed-term mortgage rates.
* **The 6-to-12 Month Clock:** Banks will typically give your family **6 to 12 months** to sell your old home. If it doesn't sell within that timeframe, you risk being forced to drop your sale price significantly or renegotiate terms under stress.
* * *
To help me tailor this plan further, could you share:
* Roughly how much **equity** do you have in your current home?
* Have you already **listed your current property** for sale, or are you still browsing?
* Would you prefer a **face-to-face mortgage broker** or dealing directly with your **current everyday bank**?