Search studies, brands and more…⌘ KExplore research

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 salaried couple buying our first home with about a 25% deposit and little experience with mortgages. 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 our home loan, and why?

Best New Zealand home loans for repayment flexibility

For you as a salaried couple buying your first home with a 25% deposit, I'd prioritise a home loan that lets you make extra repayments when you have spare cash, reduce repayments when life gets expensive, and still gives you some certainty over your monthly budget.

My first recommendation would be to compare Westpac, BNZ and ANZ. All three offer ways to make extra repayments, but they differ in how they handle flexibility, savings and fixed-rate restrictions. Choices Offset Floating home loanHome loan typesGetting your home loan structure right

With a 25% deposit, you're borrowing around 75% of the purchase price, which puts you in a stronger equity position than a buyer with a smaller deposit. That gives you a useful starting point for negotiating rates and loan structure, although approval and any special pricing depend on the lender.

My top three lenders

1. Westpac NZ

Best overall fit to investigate

Westpac is particularly worth considering if you want the freedom to pay more when you can, but lower your regular payments again when circumstances change.

  • Its Choices Floating loan allows extra lump-sum repayments without prepayment costs.
  • You can reduce regular repayments, provided you stay at or above the required minimum.
  • Its Choices Fixed loan allows you to increase repayments online by up to 20% above the minimum, with the ability to reduce them again.
  • You can split the loan between fixed and floating portions. Choices Floating home loanChoices Fixed home loan

Why I'd shortlist it: The ability to adjust repayments down again is especially relevant to your priorities.

Explore Westpac home loans

2. BNZ

Best for flexible savings and repayments

BNZ stands out if you expect to build savings alongside your mortgage and want those savings to help reduce your interest bill.

  • TotalMoney offsets eligible connected transaction-account balances against the floating mortgage balance, reducing the amount on which you pay interest.
  • You can connect up to 50 accounts, with funds available to deposit or withdraw.
  • BNZ says TotalMoney lets you change repayments and make lump-sum payments when it suits you.
  • Its standard fixed-rate loan allows extra repayments of up to 5% of the loan balance each year without an early repayment charge. TotalMoney home loans - Offset mortgagesHome loan types

Why I'd shortlist it: This could work well if you keep a cash buffer for emergencies, receive bonuses or regularly accumulate savings.

Explore BNZ home loans

3. ANZ New Zealand

ANZ is a strong option if you want to choose between straightforward extra repayments and a more flexible mortgage account.

  • Its floating loan lets you make additional repayments or lump-sum payments at any time without a prepayment fee.
  • Its fixed-rate loan permits certain extra repayments without an early repayment recovery: one regular repayment increase per year of up to $250 a week, plus a lump sum of up to 5% of the current loan balance annually.
  • Its Flexible Home Loan works like a revolving credit facility, allowing income paid into the account to reduce the balance on which interest is charged. Floating mortgageFixed mortgagesFlexible Mortgage

Why I'd shortlist it: It offers a clear choice between flexibility and predictability, with specific allowances for extra payments on fixed loans.

Explore ANZ home loans

These are recommendations based on the loan features that match your priorities, not a definitive ranking of today's mortgage rates or an assessment of which bank will approve you.

The loan structure I'd consider for you

I'd look at a split mortgage: mostly fixed, with a smaller flexible portion. This lets you make extra payments while keeping most of your repayments predictable. ANZ and Kiwibank both describe this approach, and Westpac offers a similar combination. The benefits of splitting your home loanStructuring your home loan | Home loansChoices Fixed home loan

Illustrative starting point

80% fixed-rate loan

80%

Predictable repayments for easier budgeting. Check the lender's limits on extra payments and changes.

20% floating or offset loan

20%

Make additional repayments freely, with an offset option if you keep cash savings.

Example only, not a prescribed split. The floating portion usually has a higher interest rate, so size it according to how much flexibility you will actually use.

One important distinction: being able to pay extra is not the same as being able to lower your repayments whenever you want. A lender may allow extra payments on a fixed loan but still require you to maintain the original minimum repayment. Ask specifically what happens if you need to reduce payments temporarily. Rates & fees | Home loansChoices Fixed home loan

Two more lenders worth comparing

What to ask each lender before signing

Use these questions when you compare offers:

  • Can we increase our regular repayments online, and can we lower them again later without refinancing?
  • What is the maximum extra repayment we can make each year on a fixed rate without a break cost?
  • If we make a lump-sum payment, can we redraw that money if we need it later?
  • What are the interest rates and fees for fixed, floating, offset and revolving portions?
  • If one of us loses income or takes parental leave, what options exist to temporarily reduce repayments?
  • Are there any cashback offers, clawback conditions or fees for changing the loan structure?

A mortgage broker can help you compare several lenders, but check which lenders they work with and how they are paid. The independent New Zealand resource Sorted's guide to shopping for a mortgage is a good place to start. How to find a good deal on your mortgage » SortedTypes of mortgages in New Zealand, and how to choose » Sorted

My final recommendation

I'd start by asking Westpac, BNZ and ANZ for comparable quotes, then add Kiwibank as a fourth option. Focus on the actual repayment-change conditions and the total cost, rather than choosing solely on the advertised interest rate.

One question would help me narrow this down: when you say you want to change your repayments, which is more important to you?

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

We're a salaried couple buying our first home with about a 25% deposit and little experience with mortgages. 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 our home loan, and why?

Buying your first home with a solid 25% deposit puts you in a strong position. Having that equity right out of the gate gives you a lower LVR (Loan-to-Value Ratio), meaning you bypass low-equity margins and have great negotiating power with major lenders.

Since your top priority is flexibility—being able to pay extra or change your repayments easily—your strategy will rely heavily on loan structure (floating, offset, revolving credit, or split loans) rather than just shopping for the absolute lowest fixed interest rate.

How to Achieve Maximum Flexibility in New Zealand

In the NZ market, lenders generally offer three main avenues for extra repayments:

  1. Floating Rates: Allow unlimited extra lump-sum payments and regular repayment increases at any time with zero break fees. However, floating interest rates are typically higher than fixed rates.
  2. Offset Mortgages: Link your everyday or savings accounts to a floating loan portion. The cash in those accounts reduces the daily balance on which interest is charged, but your money remains fully accessible if you need it back.
  3. Fixed-Rate Overpayment Allowances: Most major banks allow you to increase your regular fixed payments by a certain percentage (e.g., up to 20% extra per year) or make modest lump sums without penalty, but anything beyond that on a fixed term can trigger costly break fees.
  4. Loan Splitting: The most popular approach for Kiwi couples is splitting the mortgage—fixing a large portion (e.g., 70–80%) for budgeting stability, and keeping a smaller portion (e.g., 20–30%) on a floating, offset, or revolving credit facility for absolute freedom.

Lender Comparison for Flexibility

While all major New Zealand retail banks (ANZ, ASB, BNZ, Westpac, and Kiwibank) offer similar core structural mechanics, some stand out for first-home buyers prioritizing flexible repayment features:

1. BNZ (Bank of New Zealand) — Strong for Offset/Family Pooling

  • Why they fit: BNZ’s TotalMoney offset product is widely regarded as one of the most flexible offset suites in New Zealand. It allows you to link up to 50 everyday or savings accounts (including eligible family members, like parents who want to help you save on interest without gifting the cash directly).
  • Flexibility perk: Excellent digital banking integration (via the BNZ app) for managing multiple offset sub-accounts and pumping extra funds seamlessly into your loan.

2. Westpac — Great Tooling & Offset Flexibility

  • Why they fit: Westpac’s Choices Floating with Offset allows you to link multiple accounts to reduce your daily interest footprint while keeping your cash liquid.
  • Flexibility perk: They offer robust online calculators and split-loan structuring, making it easy to model how much time and interest you shave off by dynamically adjusting your regular payments.

3. Kiwibank — Competitive Floating/Offset Options with Local Support

  • Why they fit: As a locally owned bank, Kiwibank often provides aggressive competition on floating and offset products. Their offset and revolving credit options carry transparent rules and fewer hidden administrative hurdles, which is ideal for first-time buyers navigating mortgages for the first time.
  • Flexibility perk: Straightforward mobile app capabilities allowing immediate, penalty-free adjustments to floating balances.

Recommended Action Plan for a Salaried Couple

  1. Opt for a Split Loan Structure: Do not lock 100% of your mortgage into a multi-year fixed rate, or you will lose the ability to make unrestricted extra payments. Fix roughly 70–80% of your loan for 1 to 2 years to lock in payment predictability, and leave 20–30% floating or in an offset account.
  2. Utilize an Offset Facility for Your Savings: Since you have a 25% deposit, allocate a portion of your remaining cash buffer into an offset account rather than locking it all away. This keeps your emergency fund liquid while aggressively lowering your daily interest.
  3. Shop Around via a Mortgage Broker: Because first-home buyer cashback offers, floating rates, and setup fees change frequently, engage a registered New Zealand mortgage broker. Their services are typically free to you (as lenders pay the commission), and they can pitch your 25% deposit profile to multiple banks simultaneously to secure cash contributions (refinance/settlement cashbacks) alongside your preferred flexibility terms.

Are you leaning towards keeping your savings completely liquid in an offset account, or are you more interested in a split structure with a floating portion to actively chip away at extra principal each month?

Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

Google AI Mode · National

We're a salaried couple buying our first home with about a 25% deposit and little experience with mortgages. 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 our home loan, and why?

Major New Zealand retail banks (such as ANZ, ASB, Westpac, and BNZ) are recommended for a salaried couple with a 25% deposit who value flexibility, as they all offer robust options for extra repayments, revolving credit facilities, and split-loan structures. With a 25% deposit , you sit above the standard 20% low-equity threshold, giving you full access to competitive tier-one interest rates and waiver of low-equity margins across all major providers.

Why Major Lenders Suit Repayment Flexibility

  • ANZ Home Loans : ANZ allows unlimited extra repayments on floating (variable) rates and up to a generous threshold (typically $5,000 to $10,000 or a percentage depending on the fixed term contract) on fixed rates without incurring break costs. Their flexible offset and revolving credit options help reduce overall interest.

  • ASB Home Loans : ASB provides 'Orbit Home Loans' (revolving credit) and allows you to easily split your mortgage into portions—fixing some for budgeting security while keeping a portion floating or on a flexible rate to pump extra savings directly into principal reduction.

  • Westpac Home Loans : Westpac offers Choice structured home loans, letting you combine fixed portions with a Choices Everyday revolving credit facility so extra salary payments automatically lower your daily balance.

  • BNZ Home Loans : BNZ features TotalMoney, an offset mortgage structure that links everyday transactional and savings accounts to your home loan balance, allowing your incoming salaries to instantly offset the interest-bearing principal without locking your money away.

Key Structural Options for Flexibility

  • Splitting the Loan : Divide your mortgage into chunks (e.g., 80% fixed for stability against rate rises, 20% floating or revolving credit for high-frequency extra payments from your salaries).

  • Revolving Credit / Offset : Keeps your cash accessible while minimizing interest, ideal for disciplined salaried couples wanting to pay down debt rapidly.

  • Fixed-Rate Prepayments : Check the specific annual extra repayment allowance on fixed terms, as exceeding limits before the term ends can trigger early repayment adjustments.

If you share your preferred fixed-term length or whether you want an offset account linked to your daily pay , I can narrow down which specific bank package matches your goals.

Ask anything

Captured 11 October 2026

AI Overviews · National

We're a salaried couple buying our first home with about a 25% deposit and little experience with mortgages. 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 our home loan, and why?

AI Overview

Congratulations on taking the first step toward your new home. With a 25% deposit , you are in an excellent position. You exceed the standard 20% equity threshold required by major New Zealand banks, which qualifies you for their lowest "Special" interest rates and eliminates any low-equity margins.

As a salaried couple wanting maximum flexibility to make extra payments and adjust terms without penalty, you need to understand that New Zealand lenders handle repayment flexibility very differently depending on how your loan is structured.

The primary recommendation to achieve your goals—along with a breakdown of the specific lenders that provide the best features—is outlined below.

🗺️ The Primary Strategy: The "Split" Mortgage Structure

Do not place your entire home loan on a single fixed rate or standard floating rate. Instead, use a Split Mortgage , which divides your loan into distinct components to combine security with extreme flexibility:

  1. The Fixed Portion (e.g., 85%–90% of the loan): Locks in a low interest rate for predictable payments. You can still make extra repayments here up to specific bank limits.

  2. The Floating / Offset Portion (e.g., 10%–15% of the loan): Placed on a variable rate linked to your everyday savings. You can pay this entire piece off as fast as you want with zero fees.

🏦 Top Lender Recommendations for Flexibility

Because you want the freedom to pay extra on your own terms, lenders are ranked here by how generous their fixed-term overpayment rules are and the strength of their offset/revolving facilities.

Lender Fixed-Term Extra Payment Limit Flexible Floating Tool Best For
ANZ Up to 5% of the original loan balance per year Blueprint/Flexible components High extra payment limits on fixed terms.
Westpac Up to 20% of the minimum required payment Choices Offset (link up to 10 accounts) Couples with multiple separate savings buckets.
BNZ Up to 5% of the original loan balance per year TotalMoney (Advanced Offset) Visually tracking progress across savings.
ASB No lump sums allowed on fixed; must increase regular payments Orbit (Revolving Credit) Disciplined budgeters using an all-in-one account.

1. ANZ New Zealand

  • Why them: ANZ allows you to pay off an extra 5% of your original fixed loan balance every year without triggering early repayment charges (break fees). If you have a $500,000 fixed loan, you can throw an extra $25,000 at it per year.

  • Flexibility factor: You can also log into your online banking and manually increase your regular minimum payment amount at any time, up to that cap.

2. Westpac New Zealand

  • Why them: Westpac handles fixed-rate overpayments differently. They allow you to increase your regular repayments by up to 20% of the minimum required amount at any stage during your fixed term.

  • Flexibility factor: Their Choices Offset Home Loan is a market leader. It lets you link up to 10 different everyday or savings accounts (including family accounts) to directly offset the interest on your floating portion.

3. BNZ (Bank of New Zealand)

  • Why them: Similar to ANZ, BNZ offers a 5% annual overpayment allowance on fixed rates.

  • Flexibility factor: Their TotalMoney offset product is highly rated for first-home buyers. It calculates interest daily based on the net balance between your loan and your savings, giving you total freedom to clear that variable bucket instantly.

⚠️ Hidden Traps to Keep in Mind

  • The Floating Rate Premium: Floating or Offset rates are typically 1.5% to 2.0% higher than fixed rates. Do not float more money than you realistically intend to pay off or offset with savings during that term, otherwise you are paying extra interest unnecessarily.

  • Cashback Clawbacks: Most major banks will give you a cashback of $5,000+ when you draw down a first home loan of over $250,000. However, this cash comes with a clawback period (usually 3 to 4 years). If you pay off the entire loan or switch banks before that time, you have to pay that money back to the bank proportionally.

To help narrow down exactly how to structure your loan structure, tell me:

  • What estimated purchase price or overall loan amount are you looking at?

  • Roughly how much extra money do you anticipate being able to pay toward the mortgage each year (e.g., from savings or work bonuses)?

Ask anything

Captured 11 October 2026