Best lenders for your first rental property in New Zealand

Because you already own your home and are buying your first rental property, I would compare lenders on more than just the advertised interest rate. The best choice will depend on how much equity you have in your home, the rental property's purchase price and expected rent, your household income, and whether you want to keep your existing home loan where it is.

My recommendation is to compare at least three options: a major bank, a competing bank, and a lender assessed by a mortgage adviser for investment-property lending. The cheapest rate isn't always the lender most likely to approve your application or offer a useful loan structure.

The key is to find a lender that assesses your overall financial position favourably while letting you manage the risks of owning two properties.

The lenders I would shortlist

1. ANZ New Zealand

Best for equity flexibility

ANZ is worth approaching if you want to use equity in your existing home to help fund the rental deposit. It offers investment-property lending and advertises interest-only repayment options of up to 10 years, subject to approval and eligibility. Investment propertyBorrowing for an investment property

Why I'd shortlist it: particularly relevant if you have substantial equity in your home and want to structure the two loans carefully.

ANZ investment property loans

2. BNZ

Strong investment lending option

BNZ has a dedicated property-investment lending team. It says it recognises 80% of rental income in its lending assessment and offers a range of lending options for residential investment properties. Property investmentProperty investment

Why I'd shortlist it: how a bank treats expected rent can make a meaningful difference to your borrowing capacity. Ask BNZ to confirm how it would assess your particular property's rent and expenses.

BNZ investment property loans

3. Kiwibank

Best as a comparison for a straightforward application

Kiwibank explains how existing-home equity can be used towards an investment-property deposit, while noting that it generally expects at least a 30% deposit for a rental. Investing in property | Home loans

Why I'd shortlist it: it provides a useful benchmark against the major banks, especially if you have a solid deposit and stable income.

Kiwibank investment property lending

4. ASB

Worth comparing for your overall home-loan package

Ask ASB for a proposal covering both your existing mortgage and the new investment loan. The important question is whether its total pricing, lending assessment and loan structure are better than the alternatives.

Why I'd shortlist it: if it can offer a competitive package across both properties, the overall result may be better than choosing a lender on the rental-loan rate alone.

ASB home loans

These are lenders I'd investigate first, not a definitive ranking of today's cheapest rates or guaranteed approval. I would also include your current home-loan bank in the comparison: an existing banking relationship can be convenient, but it doesn't automatically make that bank the best option.

What matters most for your situation

1. Can you use equity in your home?

You may not need to fund the entire deposit from cash savings. For example, suppose your home is worth $900,000 and you owe $400,000 on its mortgage.

Calculation	Amount
Estimated home value	$900,000
Existing mortgage	$400,000
Total equity	$500,000
20% equity retained in your home, illustratively	$180,000
Potential equity available before other lending tests	$320,000

The $320,000 is not automatically available to borrow. The bank must also assess affordability, security and applicable lending rules. This example simply illustrates why it is worth asking about equity release.

2. How much deposit will the rental need?

For an existing residential investment property, 30% deposit is a sensible starting assumption. Under the Reserve Bank's current rules, banks can make only a limited share of their new investor lending at loan-to-value ratios above 70%. Exceptions and different treatment can apply, including for some new-build purchases. Understanding loan-to-value restrictions - Reserve Bank of New ZealandReserve Bank maintains Loan-to-Value Ratio (LVR) settings - Reserve Bank of New ZealandBorrowing for an investment property

For example, on a $650,000 rental, a 30% deposit would be $195,000, leaving a $455,000 property loan before purchase costs.

3. Which bank will count enough of the rent?

Banks don't necessarily count all projected rental income when deciding how much you can borrow. BNZ's published 80% figure is a useful point of comparison, but you should ask each lender what rental-income allowance and expense assumptions it would apply to your application. Property investmentInvesting in property | Home loans

4. Will the combined debt be affordable?

The bank will assess your existing home mortgage, living expenses, other debts, income and proposed rental income. Debt-to-income restrictions also apply to bank lending: the investor threshold is generally a total debt-to-gross-income ratio above seven, although banks have a limited allowance for lending above that threshold. Meeting the threshold does not guarantee approval. Understanding debt-to-income (DTI) restrictions - Reserve Bank of New Zealand

I would also compare fixed rates, cashback offers, loan fees, the cost of breaking existing fixed loans and whether interest-only repayments are available if you want that flexibility.

Should you use a mortgage adviser?

For your first rental, I would seriously consider using an independent New Zealand mortgage adviser who can compare multiple banks. This is particularly useful if you're releasing equity from your home, because the way the two properties are used as security can affect your options later.

Ask the adviser to compare:

• Total borrowing capacity across the lenders, not just the rental loan in isolation.
• Interest rates, cashback and fees for both loans.
• Whether the rental can be financed separately from your home, where practical.
• The consequences of cross-securitising the properties, including what happens if you later sell or refinance one.
• Repayment structures that suit your cash flow and long-term plans.

Let me narrow this down for you

I can make a more useful recommendation if I know three things about your situation.

With those details, I can help you prioritise which lenders to approach first and what to ask each one, rather than simply giving you a generic list of banks.

For an Auckland homeowner buying a first rental property, I would not choose a lender purely on the lowest advertised interest rate. The best lender depends on your equity position, income, existing home loan structure, future plans (one rental vs building a portfolio), and how much flexibility you want.

A good shortlist to compare would be:

1. BNZ — strong all-round choice for property investors

Why consider them:

• Good investor-focused lending experience.
• Strong loan structuring options (useful if you later buy more properties).
• Offset-style features can help if you have cash savings or want flexibility.
• Often competitive for investment lending; BNZ has been recognised for investment home lending value in recent mortgage comparisons. Canstar

Best fit if:

• You want to grow a portfolio.
• You value a sophisticated lending structure rather than just the cheapest rate.
• You already have a straightforward owner-occupier mortgage.

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2. ASB Bank — strong if you want simplicity and good digital tools

Why consider them:

• Competitive investment fixed-rate offerings.
• Good online banking experience.
• Often attractive for existing ASB customers because they can see your broader financial position.

ASB has been recognised among lenders offering strong investment mortgage value in recent comparisons. Canstar

Best fit if:

• You prefer a large bank with good systems.
• You want an easy transition from your current banking setup.
• You are buying a fairly standard residential rental.

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3. ANZ New Zealand — worth including for negotiating power

Why consider them:

• One of the largest mortgage lenders in New Zealand.
• Broad lending capability.
• Can be competitive when there is a strong application and good equity.

Best fit if:

• You have a strong financial profile.
• You want another major bank quote to negotiate against your current lender.

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4. Westpac New Zealand — good alternative major bank

Why consider them:

• Competitive fixed lending at times.
• Good option for comparing structure, pricing, and cashback offers.
• Large-bank stability and established property lending processes.

Westpac has also appeared among lenders receiving strong home loan value recognition in recent comparisons. Canstar

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5. SBS Bank / The Co-operative Bank / TSB Bank — worth checking for sharper pricing

Why consider them:

• Smaller lenders sometimes compete harder on rates or service.
• They may be attractive if your situation is simple and you are rate-focused.

For example, The Co-operative Bank has received recognition for some floating and line-of-credit mortgage categories, while other smaller banks can compete strongly in specific products. Canstar

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My preferred approach for a first rental purchase

Rather than moving everything immediately, I would usually:

1. Ask your existing home lender first

   • They already know your finances.
   • They may offer a better deal to keep your business.
   • It may be easier to use equity in your home.

2. Get competing offers from 2–3 other lenders

   • Compare:
     • interest rate
     • cashback contribution
     • loan structure
     • valuation requirements
     • ability to borrow again later

3. Consider a mortgage adviser

   • Investment lending rules vary significantly between banks.
   • A broker can sometimes find a lender that assesses rental income, expenses, or self-employed income more favourably. Opes Partners

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Things I would pay particular attention to in your situation

Because you already own your home, the key question is probably how you use your existing equity.

Ask lenders about:

• Separate lending splits
  Keep your home mortgage and rental debt clearly separated.

• Interest-only options
  Some investors use interest-only periods to improve cash flow (depending on their strategy).

• How they treat rental income
  Banks differ in how much rent they include when assessing affordability. BNZ, for example, notes it recognises 80% of rental income in its investment lending assessment. BNZ

• Future borrowing capacity
  The cheapest first loan is not always the best if you plan to buy another property.

• Deposit/equity requirements
  Investor lending is generally subject to stricter LVR rules than owner-occupied lending. Reserve Bank of New Zealand

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My starting shortlist for an Auckland first rental buyer:

1. BNZ — best overall investor structure
2. ASB — strong combination of simplicity and competitiveness
3. Your current bank — often worth negotiating first
4. ANZ or Westpac — strong alternatives for comparison
5. SBS / Co-operative Bank / TSB — check for pricing advantages

If you share:

• your current home value,
• your remaining mortgage,
• purchase price of the rental,
• expected rent,
• household income,
• whether you want to buy more rentals later,

I can suggest which lender type is likely to fit best and how I would structure the lending.

For a first rental property in Christchurch, I would usually not pick a lender purely on the lowest interest rate. The best lender is often the one that gives you the right borrowing capacity, loan structure, flexibility for future purchases, and sensible treatment of rental income.

Because you already own your home, your biggest advantage is likely your existing equity. A good lender should help you use that efficiently without unnecessarily tying your home and investment together. (Investor lending rules are tighter than owner-occupier lending, and banks generally apply stricter LVR and servicing tests to rental properties.) Reserve Bank of New Zealand

My shortlist for a first rental investor in Christchurch

1. ASB Bank — strong all-round option

Why consider it:

• Good digital banking experience and easy loan management.
• Often competitive for existing customers with good equity.
• Can be a good fit if you want to keep your personal banking and investment lending together.
• Usually a straightforward process for a first-time investor.

Best suited to:
A conservative investor buying one rental and wanting simplicity.

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2. BNZ — strong for investors planning to grow

Why consider it:

• Has a dedicated property investment focus and specifically markets support for residential investors. BNZ
• Can be attractive if you think you may buy more properties later.
• Often good at structuring lending rather than just offering a mortgage.

Best suited to:
Someone thinking “this is our first rental, but probably not our last.”

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3. ANZ New Zealand — strong balance sheet and broad lending appetite

Why consider it:

• One of the largest NZ mortgage lenders.
• Can be competitive for borrowers with strong income, equity and straightforward finances.
• Good if you value a large-bank relationship.

Best suited to:
Borrowers with stable employment, good equity and a simple structure.

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4. Westpac New Zealand — worth including in a rate and structure comparison

Why consider it:

• Often competes strongly for quality borrowers.
• May offer good outcomes when your overall banking relationship is considered.
• Worth having in the mix when negotiating.

Best suited to:
People prepared to compare offers rather than accepting their current bank automatically.

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5. Squirrel / mortgage advisers — useful if you want lender competition

A good mortgage adviser can compare multiple banks and non-bank lenders and may find a structure you would not get by walking into one bank.

This is particularly useful if:

• your income is variable,
• you are self-employed,
• you want interest-only periods,
• you want to preserve borrowing power for another purchase.

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How I would structure the lending

For many first-time investors, I would look at:

Keep your home loan separate from the rental loan

Avoid casually putting everything under one big mortgage. A clean structure makes future refinancing, tax advice, and portfolio management easier.

Consider splitting the rental loan

For example:

• Part fixed for certainty,
• Part floating or flexible for extra repayments,
• Possibly an offset/revolving facility if it suits your cash flow.

Think about future borrowing capacity

The first rental can either help you build wealth or limit your next move. The lender’s assessment of:

• rental income,
• expenses,
• existing home debt,
• interest rates used in servicing tests,

can make a large difference.

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Lenders I would approach first in your position

My practical order would probably be:

1. BNZ — for investor-focused structuring
2. ASB — for a strong mainstream option
3. ANZ — for a competitive large-bank comparison
4. Westpac — to negotiate against the others
5. A mortgage adviser — to see whether a better fit exists outside your bank

I would get at least three written lending proposals before committing. The difference between lenders is often not the advertised rate; it is how much they will lend you and how they structure it.

If you share:

• approximate value of your home,
• current mortgage balance,
• household income,
• target rental price/value,
• deposit available,

I can give a much more tailored recommendation of which lender type is likely to suit you best.

Best lenders for your first rental property in Dunedin

Since you already own your home and are buying your first rental property, I would focus on which lender will give you the best overall borrowing structure, not just the lowest interest rate.

In New Zealand, the right lender depends heavily on how much equity you have in your existing home, your household income, the expected rent from the new property, and whether you want to pay down your own mortgage faster while building an investment portfolio.

My starting shortlist would be ANZ, BNZ, ASB, Westpac and Kiwibank. I'd also consider a mortgage adviser who can compare lenders' servicing calculations and structure the lending across both properties.

My recommended lender shortlist

1. ANZ

Strong starting point

ANZ is worth approaching first if you have substantial equity in your home and want flexibility in how you structure the investment loan.

• May let you use equity in existing properties towards the deposit.
• Advertises interest-only repayments for investment properties for up to 10 years, subject to approval.
• Offers pre-approval and support through mortgage managers.

Best for: Investors who want to preserve cash flow or prioritise repayments on their owner-occupied mortgage.

Source: Investment propertyInterest-only home loans for investment properties

ANZ investment property loans

2. BNZ

BNZ deserves a close look because it specifically promotes its residential property investment lending service.

• Its property investment team advertises a 48-hour approval turnaround for loans up to $1 million, subject to its conditions.
• It says it recognises 80% of rental income when assessing applications.
• It supports a range of property types, subject to lending criteria.

Best for: Buyers who want a lender experienced in investment applications and a clear assessment of rental income.

Source: Property investmentProperty investment

BNZ property investment lending

3. ASB

ASB belongs on your comparison list, particularly if your existing home loan is already with ASB or you want to explore moving your overall lending there.

• Worth asking about using existing home equity to fund the deposit.
• Compare its servicing assessment, investment loan pricing and flexibility against ANZ and BNZ.
• Ask for a structure that keeps your home loan and investment borrowing clearly separated.

Best for: Homeowners seeking a competitive whole-of-borrowing package.

ASB home loans

4. Westpac

Westpac is a useful alternative for negotiating your complete lending package rather than comparing the rental loan in isolation.

• Compare its fixed-rate offers, fees and any available cash contribution.
• Ask how it assesses existing mortgage repayments and prospective rental income.
• Consider whether its repayment options suit your cash-flow plans.

Best for: Homeowners willing to compare and negotiate across lenders.

Westpac home loans

5. Kiwibank

Kiwibank is worth including as a challenger in your rate and loan-structure comparison.

• Compare its current fixed rates, fees and investor lending criteria.
• Ask how much of the expected rent it will count towards servicing.
• Check its approach to using existing equity and whether it can meet your desired loan structure.

Best for: Buyers looking for an additional competitive quote.

Source: Kiwibank: Print ratesInvesting in property | Home loans

Kiwibank investment property lending

These are lenders I'd approach for quotes, not a claim that one has the cheapest investor rate today or will necessarily approve your application. Actual offers depend on your circumstances and the property.

The two things I'd focus on before choosing

1. How you use the equity in your existing home

You may not need to have the entire rental deposit sitting in cash. Depending on your home's value, current mortgage balance and the lender's assessment, you might be able to borrow against existing equity.

New Zealand's current Reserve Bank settings generally treat investment lending above 70% of the investment property's value as high-LVR lending. Banks can make a limited share of new investor loans above that threshold, but approval is not guaranteed. There is also a combined-collateral exemption with specific conditions. Loan-to-value ratio restrictions - Reserve Bank of New ZealandReserve Bank maintains Loan-to-Value Ratio (LVR) settings - Reserve Bank of New Zealand

Ask each lender to compare these two approaches:

• Separate lending: A loan secured against your home funds the deposit, with a separate loan secured against the rental.
• Combined security: Your home and rental property are both used as security for the overall lending.

I would ask for the separate structure to be priced and assessed first, so you can clearly see how much you're borrowing for each purpose. Cross-securitising both properties can complicate selling or refinancing one of them later.

2. How much the bank will let you borrow

A bank may accept the deposit you can assemble but still decline the application because of its servicing assessment.

Ask every lender:

• What percentage of the expected rent will you count as income?
• What interest rate will you use to test whether we can afford the debt?
• How will you assess our existing home mortgage and other expenses?
• Can we have part of the lending on interest-only repayments, and for how long?
• What are the investor rate, fees, cashback conditions and any early repayment costs?

BNZ's published 80% rental-income assessment is a useful starting point for comparison, but don't assume every lender uses the same calculation. Property investmentProperty investment

What I'd do in your position

1. Ask your existing home-loan bank for a proposal, including how much equity it can release.
2. Get competing proposals from ANZ and BNZ.
3. Have ASB, Westpac or Kiwibank compete on the total cost and structure.
4. Compare the offers using the same property price, rent estimate, deposit and loan term.
5. Keep a cash buffer for vacancies, maintenance, insurance and unexpected costs rather than using every dollar of available equity.

A mortgage adviser experienced with investment properties can be particularly useful if your existing mortgage and the rental loan will be split across different properties.

Let me narrow this down to the best two or three lenders for you

The most useful next step is to understand your equity position and borrowing needs. Approximate figures are fine.

Illustrative inputs only — change any figures you like, and leave fields blank if you prefer.

With those details, I can give you a much more tailored shortlist and explain whether your biggest constraint is likely to be the deposit, usable equity or servicing capacity.

Best lenders for your first rental property in New Zealand

Since you already own your home and are buying your first rental property, I'd recommend comparing at least three lenders before committing: one major bank, one alternative major bank, and a mortgage adviser who can compare lending options across multiple banks and non-bank lenders.

The best lender isn't necessarily the one offering the lowest advertised interest rate. For your situation, the important factors are how much you can borrow, how the lender assesses rental income, how much equity you can use from your existing home, and whether the loan structure supports your long-term investment plans.

I'll approach this from a New Zealand perspective, with Wellington as your home base.

1. Which lenders would I put on your shortlist?

I'd start by comparing these five lenders:

Lender	Why I'd consider them	Best suited to
ANZ	Worth approaching if you want to use equity in your existing home to help fund the deposit. ANZ specifically discusses using existing property equity for investment purchases and offers interest-only options for eligible investors. ANZ investment property lending	Homeowners who want to leverage existing equity.
BNZ	Has a dedicated residential investment property offering and experience with different property types, including apartments and terraced housing. BNZ investment property lending	Investors who want a lender with a specific investment-property offering.
ASB	Worth including in a competitive quote, particularly if you already bank with ASB. Compare its assessment of your income, expenses and existing mortgage against other lenders.	Borrowers seeking a competitive mainstream bank offer.
Westpac	Another major bank worth approaching for a competing offer. Compare its lending assessment, interest rates, fees and flexibility on repayments.	Borrowers wanting to negotiate across several major banks.
Kiwibank	Worth comparing as an alternative to the larger banks, especially if the overall loan package and relationship with your existing bank matter to you.	Borrowers looking for another mainstream lending option.

The ANZ and BNZ links above provide information about their investment lending. The other recommendations are lenders I'd include in a comparison, not a claim that they will necessarily approve your application or offer better terms.

My initial preference would be to compare ANZ and BNZ with your existing home-loan provider. However, I wouldn't choose a lender until we know how much equity you have and how the proposed purchase affects your overall borrowing capacity.

2. The biggest decision: using your existing home equity

Because you already own your home, you may be able to use some of its equity to fund the deposit on the rental property.

This is often the most important part of structuring your first investment loan.

For example, suppose you have the following financial position:

Item	Example
Current home value	$1,000,000
Existing home mortgage	$400,000
Equity in your home	$600,000
Potential additional borrowing at an illustrative 80% loan-to-value ratio	$400,000

The calculation is:

• Home value: $1,000,000
• Illustrative maximum total lending at 80% of the value: $800,000
• Less existing mortgage: $400,000
• Potential additional borrowing: $400,000

Important: The $400,000 is an illustration of equity that might be available under that assumed lending limit. It is not a bank approval or a guarantee that you can borrow that amount. The bank must assess your income, expenses, existing debt and the proposed lending structure.

The actual amount you can access may be lower.

How much deposit will you need?

New Zealand's Reserve Bank applies loan-to-value ratio (LVR) restrictions to banks' residential lending.

As at October 2026, the investor LVR settings allow banks to allocate up to 10% of new investor lending to loans with an LVR above 70%. This means that a 30% deposit remains a useful starting assumption for an existing rental property, although some lending above 70% LVR is permitted. Banks also apply their own credit policies, so the availability of a smaller deposit varies. Reserve Bank of New Zealand

For example, if you purchase an existing rental property for $700,000:

Item	Amount
Purchase price	$700,000
Illustrative 30% deposit	$210,000
Illustrative 70% mortgage	$490,000

Your deposit could potentially come from a combination of savings and equity released from your existing home.

Remember that you will also need to budget for legal fees, inspections, insurance and any immediate maintenance or improvements.

Should you borrow against your home or the rental property?

There are two broad approaches:

Option A: Use your existing home's equity for the deposit.

You increase the mortgage secured against your home and take out a separate mortgage for the rental property.

Advantages:

• You may be able to purchase the rental without using as much cash savings.
• You can keep the borrowing for the investment purchase separate from your existing home loan.
• It may provide flexibility for future investment purchases.

Option B: Use cash savings for the deposit and borrow the remainder against the rental property.

Advantages:

• You avoid increasing your home mortgage as much.
• You may retain equity in your home for emergencies or future opportunities.
• Your borrowing may be simpler to manage.

Neither option is automatically better. Using home equity increases the debt secured against your home, which is important because your home could be at risk if you cannot meet the repayments.

I'd ask the lender or mortgage adviser to model both approaches before making a decision.

3. Which loan structure would I recommend?

For a first rental property, I'd focus on three things.

A. Keep the investment borrowing separate

Where practical, ask the lender to structure the lending so that the portion borrowed for the investment deposit is clearly identifiable and separate from your existing home loan.

For example:

• Loan 1: Existing owner-occupied mortgage.
• Loan 2: Additional borrowing against your home to fund the investment deposit.
• Loan 3: Mortgage secured against the rental property.

This can make it easier to track your debt, assess investment performance and maintain clear records for tax purposes.

Tax note: New Zealand's residential investment interest-deductibility rules have changed in recent years. Interest deductibility generally depends on the purpose of the borrowing and applicable tax rules, not simply which property secures the loan. Have your accountant confirm the treatment of each loan before drawing down the funds.

B. Compare interest-only and principal-and-interest repayments

Some investors prefer interest-only repayments because they reduce the required monthly payment during the interest-only period.

For example, a $500,000 loan at an illustrative 5.5% annual interest rate would have approximately:

• Interest-only: $2,292 per month.
• Principal and interest over 30 years: $2,839 per month.

These figures are illustrations, not current lender quotes.

Interest-only repayments can improve short-term cash flow, but they do not reduce the principal. You will also need a plan for the end of the interest-only period, when repayments may increase.

I'd ask each lender:

• Will you offer interest-only repayments on our investment property?
• For how long?
• What criteria must we meet?
• What will the repayments be when the interest-only period ends?

I would not choose a lender solely because it offers the longest interest-only period.

C. Compare the total cost, not just the advertised rate

Ask each lender for its best offer based on your circumstances, including:

• Fixed interest rates for one, two and three years.
• Floating interest rates.
• Cash contributions or cashback offers, if available.
• Loan establishment and legal costs.
• Early repayment or break costs.
• Offset or revolving-credit facilities, if relevant.
• Interest-only availability and conditions.

A slightly lower rate isn't always the best overall deal if it comes with less flexibility or higher costs.

For current market context, the Financial Markets Authority publishes information about mortgage-rate changes following Reserve Bank OCR reviews. You can also compare current advertised rates through interest.co.nz.

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4. Don't overlook borrowing capacity

One of the biggest mistakes first-time investors make is assuming that enough equity automatically means the bank will approve the loan.

It doesn't.

The bank will also assess whether you can afford your existing mortgage and the proposed investment loan.

It will typically consider:

• Your household income.
• Your existing mortgage repayments and other debts.
• Your living expenses and financial commitments.
• The rental income expected from the new property.
• Its own interest-rate stress testing.
• Applicable LVR and debt-to-income restrictions.

For example, a property might have a substantial deposit and look affordable at today's interest rate, but the bank may assess your application using a higher test rate.

This is why I'd want to compare lenders' assessments of your borrowing capacity, not just their interest rates.

If one bank offers you materially less than another, ask why. The difference may reflect how it assesses rental income, existing expenses or your total debt commitments.

5. Should you use a mortgage adviser?

For your first rental purchase, I'd seriously consider using an experienced mortgage adviser who works with multiple lenders.

The main benefit is not simply finding a lower interest rate. It is understanding how different banks will assess your overall position.

A good adviser should help you:

• Calculate the equity potentially available in your existing home.
• Estimate your borrowing capacity.
• Compare lending options across multiple banks.
• Structure the home and investment loans appropriately.
• Understand the implications of cross-securitising the properties.
• Negotiate interest rates and any available cash contributions.
• Obtain pre-approval before you commit to a purchase.

Ask how the adviser is paid, which lenders they work with, and whether they have experience arranging loans for property investors.

I'd also speak to your accountant before finalising the loan structure, particularly if you intend to acquire more investment properties in the future.

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6. My recommendation for your situation

Based on what you've told me, here's the order in which I'd approach this.

1. Start with your current mortgage provider. Ask how much equity you could potentially release and whether it can finance both the deposit and the investment loan.
2. Get a comparison from ANZ and BNZ. Both are sensible candidates to include in the initial comparison.
3. Include ASB, Westpac or Kiwibank through a mortgage adviser. Ask the adviser to identify which lenders are most likely to offer competitive terms for your circumstances.
4. Get pre-approval before making an unconditional offer. Make sure you understand the conditions and whether the bank will need to approve the specific property.
5. Compare the proposed loans as a package. Consider rates, fees, cash flow, loan structure and future flexibility.

I wouldn't automatically move your existing home mortgage to another bank. Moving everything can sometimes help with negotiations, but the benefits need to outweigh any costs and complications.

7. Let me narrow this down to the best two or three lenders for you

The best lender will depend heavily on your equity, income and the type of rental property you're buying.

Could you tell me these four things? Rough estimates are absolutely fine.

1. Your current home: What's its approximate value, and how much is left on your mortgage?
2. Your household income: Approximately how much do you and your partner earn before tax each year combined? If buying on your own, just give your income.
3. Your rental budget: What price range are you considering? For example, $500,000–$700,000 or $700,000–$900,000.
4. Your deposit: How much cash savings do you have available for the purchase, excluding any equity in your home?

With those figures, I can give you a more tailored assessment of which lenders I'd approach first, how you might structure the deposit, and what could limit your borrowing capacity.