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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 own our home and are buying our first rental property. What matters most to us is being able to pay extra or change our repayments when we need to. Which lenders would you recommend for the rental property loan, and why?

For your first rental property in New Zealand, I'd focus on lenders that let you make extra repayments, increase or decrease your regular payments, and access spare cash again if your circumstances change.

The key is choosing the right loan structure, not just the bank. A fixed-rate loan can give you more certainty, while a floating or revolving-credit loan can offer greater flexibility. You can also split the loan between the two. Compare interest rates and home loansHome loan typesRevolving home loan | Home loans

My shortlist of lenders

These are the lenders I'd compare first based on the repayment flexibility you're prioritising.

1. Kiwibank

Best to investigate for flexible extra repayments and offsetting savings

Kiwibank offers variable-rate and offset home loans that allow extra repayments without a fee. Its offset loan can link up to eight eligible everyday accounts, reducing the balance on which you pay interest. You retain access to money in those linked accounts. Offset home loan | Home loansVariable rate home loan | Home loans

Why it may suit you: If you want to build up savings for repairs, vacancies or other expenses while reducing mortgage interest, offsetting is worth comparing.

Watch out: Money paid directly into the offset loan cannot be withdrawn again. Check that the particular product is available for your investment borrowing and ownership structure.

Kiwibank offset home loan

2. ANZ

Best to investigate for redraw flexibility

ANZ's Flexible Home Loan is a revolving-credit facility: you can pay money in and redraw it within your approved limit, with no set repayments while you remain within that limit. It has a variable interest rate and a $12.50 monthly account fee. ANZ also offers standard floating loans, which allow extra repayments without an early repayment fee. Flexible MortgageFloating mortgage

Why it may suit you: You want the ability to put spare cash into the loan, then access it again if you need to cover unexpected costs.

Watch out: The rate is generally higher than fixed rates, and revolving credit requires spending discipline. Ask ANZ to confirm the product's availability and terms for a rental-property loan.

ANZ flexible home loan

3. BNZ

Best to investigate for a choice of loan structures

BNZ offers floating loans with penalty-free extra repayments, fixed loans that permit up to 5% extra repayment annually without an early repayment charge under its Standard loan rules, and TotalMoney offset loans. Its Rapid Repay product provides revolving credit. Home loan typesPaying off your home loan faster

Why it may suit you: You can compare the flexibility of floating and revolving credit with the predictability of a fixed-rate portion. BNZ also has a dedicated property-investment lending service. Property investmentProperty investment

Watch out: Check how the fixed-loan repayment allowance is calculated and whether the relevant products are offered on your investment loan.

BNZ home loan types

4. ASB

Best to investigate for a straightforward revolving-credit facility

ASB's Orbit revolving-credit loan lets you repay and redraw money within your approved credit limit at any time. You can direct income into the account to reduce the outstanding balance and interest charged. Revolving mortgage - Giving you flexibilityDoes ASB offer a mortgage offset account?

Why it may suit you: It gives you flexibility if your income varies or you want to make large additional payments and access those funds later.

Watch out: The floating interest rate can change, and you need to manage the account carefully to avoid re-borrowing the money you have paid off.

ASB revolving-credit home loan

Which loan structure best matches your needs?

Loan structure Extra repayments Access to money again Main trade-off
Fixed rate Usually limited by the loan's extra-payment rules Generally limited More predictable repayments
Floating rate Usually unrestricted, subject to terms Usually not automatic once repaid Variable rate may be higher
Offset loan Usually flexible Savings remain accessible in linked accounts You pay a variable rate
Revolving credit Flexible Yes, within the approved limit Requires discipline; interest may be higher

These are general product characteristics, not a guarantee that every lender will offer every structure for your rental property. Types of mortgages in New Zealand, and how to choose » SortedHome loan typesOffset home loan | Home loansRevolving mortgage - Giving you flexibility

My suggested starting point

Given your priorities, I'd start by comparing Kiwibank's offset option, ANZ's revolving credit and BNZ's combination of fixed and floating lending.

A split loan could be a good compromise: keep most of the borrowing on a fixed rate for repayment certainty, and put a smaller portion on a flexible facility so you can make extra repayments or retain access to cash. The right proportions depend on your budget and how much flexibility you need.

Before choosing, ask each lender to confirm these four points:

  • Can we increase or decrease our scheduled repayments whenever we need to?
  • Can we make unlimited lump-sum repayments without an early repayment fee?
  • If we pay extra, can we redraw that money, and what conditions apply?
  • Are these exact terms available for an investment property, including if we borrow against equity in our existing home?

One important consideration: if you use equity in your own home to help buy the rental, ask your mortgage adviser and accountant how to structure and document the borrowing separately. Inland Revenue's rules can depend on what borrowed funds were actually used for, so mixing personal and rental-property spending can complicate interest deductibility. Investment propertyIR264
March 2026
Rental income
Tax rules for peop

Two questions that would help narrow this down

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

We own our home and are buying our first rental property. What matters most to us is being able to pay extra or change our repayments when we need to. Which lenders would you recommend for the rental property loan, and why?

When buying your first rental property while already owning your home, prioritizing repayment flexibility is a smart strategy. In New Zealand, the major retail banks (such as ANZ, ASB, BNZ, Kiwibank, and Westpac) all offer products designed to accommodate extra repayments, lump-sum payments, or structural changes without incurring heavy financial penalties.

Because you want the ability to change repayments or pay down debt aggressively, you will generally be looking at Floating/Variable rates, Offset facilities, or Revolving Credit facilities, or a Split-Loan structure combining fixed and flexible portions.

Key Lending Structures for Flexibility

  1. Floating / Variable Loans: These allow you to make extra lump-sum payments or increase your regular repayments at any time without early repayment (break) fees. The downside is that floating interest rates are traditionally higher than fixed rates.
  2. Offset Mortgages: This allows you to link eligible everyday or savings accounts to your floating loan balance. You only pay interest on the net difference, which accelerates how fast you pay down principal while keeping your cash accessible.
  3. Revolving Credit: Acts like a giant overdraft facility linked to an operating account. You can draw down or pay off funds freely up to your credit limit, giving ultimate transactional flexibility.
  4. Split Loans: A popular hybrid approach where you fix a portion of your rental loan for rate certainty, and keep a smaller portion floating or on a revolving/offset structure for flexibility.

Major NZ Lenders and Their Flexible Features

  • ASB Bank
    • Why consider them: ASB offers robust Variable Rate and Revolving Credit options for investment property loans. Their digital platforms (like ASB Home Central) make it straightforward to monitor property portfolios, track estimated equity ranges, and manage repayments digitally.
  • Kiwibank
    • Why consider them: Kiwibank features flexible Offset Home Loans and variable options that allow unlimited extra repayments on floating portions at no extra cost. They are often competitive on structuring multi-loan splits for investors balancing fixed stability with flexible cash flow.
  • Westpac
    • Why consider them: Westpac provides Choices Floating and Choices Floating with Offset options. They allow unlimited lump-sum payments or increases to regular repayments without prepayment costs on floating tiers, alongside options to split loans.
  • BNZ & ANZ
    • Why consider them: Both major banks offer comprehensive TotalMoney (BNZ) or Flexible/Offset (ANZ) packages. They permit seamless shifting between structures when fixed terms expire, though like all major banks, breaking a fixed term early to change repayments triggers strict economic break fees.

Strategic Considerations for Your Rental Loan

  • Avoid Fixing the Whole Amount: If absolute flexibility is your primary requirement, committing 100% of the rental loan to a multi-year fixed rate will restrict you. Fixed loans in New Zealand typically cap extra repayments (often allowing only an extra 5% or 10% of the principal per annum) and charge heavy break fees if interest rates drop and you alter the terms.
  • Leveraging Your Owner-Occupier Home: Since you already own your home, lenders will typically look at your combined equity (using a revolving credit facility or top-up against your primary residence) to fund the rental deposit or purchase. Structuring this effectively can give you low-cost flexible funds for the deposit while keeping the rental property mortgage cleanly organized for tax-deductibility purposes (noting that in New Zealand, keeping a clear audit trail of debt used explicitly for income-generating rental properties is crucial for Inland Revenue Department compliance).

Are you planning to fund the rental property entirely through a new standalone mortgage, or are you looking to unlock equity from your current home to cover the deposit?

Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

Google AI Mode · National

We own our home and are buying our first rental property. What matters most to us is being able to pay extra or change our repayments when we need to. Which lenders would you recommend for the rental property loan, and why?

When buying a first rental property while already owning your own home, having maximum flexibility to alter repayments or make extra lump-sum payments depends less on choosing a single "best" bank and more on the loan structures and policies you set up with major New Zealand lenders (such as ANZ, ASB, BNZ, Kiwibank, and Westpac).

To achieve complete freedom to change or accelerate repayments without facing heavy early repayment or break fees, consider the following structural approaches and lender features available in the New Zealand market:

  • Floating and Revolving Credit Portions: Keeping a portion of your investment loan on a floating rate or a revolving credit facility allows unlimited extra payments and redraw capabilities at any time. For guidance on how these operate, check out the overview on mortgage options via Sorted NZ Mortgage Types. Types of mortgages in New Zealand, and how to choose

  • Fixed-Rate Prepayment Allowances: Most major NZ banks allow you to increase your regular fixed repayments (often by up to 10% to 20% above the minimum) or make limited annual lump-sum extra payments (usually 5% to 20% of the initial fixed principal per year) without incurring break fees. For example, lenders like Westpac Home Loans offer features allowing adjustments on fixed portions within specific thresholds.

  • Split Loan Strategy: A common approach used by property investors is a split structure—fixing a large portion of the investment debt for interest-rate certainty, while leaving a smaller portion floating or on a revolving facility to absorb extra cash flow and allow arbitrary repayments.

  • Offset Facilities: Some lenders permit linking eligible personal or family savings/transaction accounts directly to a portion of the loan, reducing the daily interest calculation while keeping your capital fully accessible if you need to withdraw it. [sorted.org.nz]

If you'd like to narrow this down, please let me know:

  • Whether you prefer a fully floating/revolving setup or a split structure (fixed plus flexible)
  • If you have a preferred main transactional bank you already use for your current home loan

I can help outline how specific major New Zealand lenders handle their extra repayment caps and offset/revolving features for rental properties.

Ask anything

Captured 11 October 2026