The questions and original answers

For a $60,000 renovation top-up in New Zealand, and especially because you value good help and advice when you need it, I would focus less on chasing the absolute lowest advertised rate and more on lenders with strong home-loan support, clear renovation processes, and access to knowledgeable people.

Your first conversation should usually be with your existing mortgage lender, because a top-up is often simpler and may avoid the cost and hassle of moving your whole mortgage. However, it is worth comparing a few options. MoneyHub NZ

Lenders I would put on your shortlist

1. ASB Bank — strong all-round choice for advice and renovation support

Why consider it:

• ASB has a dedicated building/renovation lending process and home lending specialists who can talk through options. ASB Bank
• Good fit if you like having access to people who can explain choices rather than just completing an online application.
• Existing ASB customers may find a top-up process relatively straightforward.

Best for: homeowners who want a mainstream bank with good digital tools plus human support.

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2. ANZ New Zealand — good if your renovation needs planning help

Why consider it:

• ANZ offers renovation-specific lending options and has renovation/building support through its home lending teams. ANZ Bank
• Its approach can suit people who want help thinking through budgets, staged spending, and how the loan fits with their mortgage.

Watch-out: some renovation-specific offers have limits (for example, certain products may cap the amount available), so a $60,000 project may require a standard top-up rather than a specialised product. ANZ Bank

Best for: people who want a more guided process.

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3. BNZ — worth considering for practical top-up advice

Why consider it:

• BNZ has a clear home-loan top-up process and explains factors such as your home value, loan-to-value ratio, affordability, and whether the renovation requires additional documentation. BNZ
• A good option if you want someone to walk through the mechanics of increasing your mortgage.

Best for: borrowers who appreciate a structured process.

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4. Westpac New Zealand — good if you prefer access to mortgage experts

Why consider it:

• Westpac provides home loan experts for building and renovation lending conversations. Westpac NZ
• Could suit borrowers who want a traditional bank relationship and the option of speaking with a lending specialist.

Best for: people who value face-to-face or phone support.

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My ranking based on your priority (help and advice)

1. ASB — strongest overall fit for advice + renovation support
2. ANZ — very good if you want guidance through the renovation process
3. BNZ — good structured top-up experience
4. Westpac — good personal support option

That said, the best lender may simply be your current bank if they already know your mortgage history and can offer a competitive top-up. Switching lenders for $60,000 may not be worthwhile unless the savings or service difference is meaningful.

Before choosing, I would ask each lender:

• “Who will be my point of contact if the renovation runs over budget?”
• “Can I speak with the same adviser throughout the process?”
• “Do I need a valuation, quotes, plans, or consent documents?”
• “Can I split the $60,000 into fixed and floating portions?”
• “What are the fees for increasing my mortgage?”
• “How will this affect my ability to refinance or make extra repayments later?”

Also check whether any part of your renovation qualifies for a healthy home/energy upgrade loan, because some New Zealand banks offer special low-interest top-ups for things like insulation, efficient heating, solar, or other energy improvements. EECA

If you tell me which bank your mortgage is currently with, your approximate home equity (or current loan-to-value ratio), and whether the $60,000 is for cosmetic work vs structural renovation, I can narrow this down further.