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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

Which bank is best for paying off a mortgage top-up early?

For a mortgage top-up in New Zealand that you want to pay off early, I’d prioritise a bank that lets you make extra repayments without hefty early repayment fees, rather than choosing purely on the advertised interest rate.

The best bank depends on whether you want to repay the top-up in a few years, make occasional lump-sum payments, or pay extra every week or fortnight.

My shortlist of NZ banks

  1. ANZ — best for regular extra repayments

ANZ lets eligible fixed-rate borrowers increase regular repayments by up to $250 a week, subject to its conditions, and make an additional lump-sum payment of up to 5% of the current loan balance each year without an early repayment recovery. Floating loans allow extra repayments at any time without an early repayment fee. Fixed mortgagesFloating mortgage

Best if you want to pay extra every payday.

ANZ repayment options

  1. Kiwibank — best for straightforward extra payments

Its fixed-rate home loans generally allow additional repayments totalling up to 5% of the original loan amount at the start of the fixed term each year. Variable loans allow additional repayments without an early repayment fee. Rates & fees | Home loansGet mortgage free faster | Home loans

Best if you want a clear annual repayment allowance.

Kiwibank repayment options

  1. BNZ — worth considering for lump sums

BNZ allows eligible standard fixed-rate home loan borrowers to make extra repayments of up to 5% of the loan balance each year without an early repayment charge. Its TotalMoney offset loan may also help reduce interest if you have savings in linked accounts. Explaining early repayment chargesTotalMoney home loans - Offset mortgages

Best if you have savings that could reduce your mortgage interest.

BNZ early repayment rules

What I would do

If your goal is to clear the top-up as quickly as possible, I'd generally look at these two approaches:

  • Fixed-rate top-up: Often suits you if you want a lower, predictable interest rate and can repay within the bank's permitted extra-repayment limits.
  • Floating or flexible top-up: Often suits you if you expect to repay large lump sums or clear the debt entirely ahead of schedule, because extra repayments are generally more flexible. The interest rate may be higher, though. Mortgages and home loansFloating mortgage

You don't necessarily need to switch your entire mortgage to another bank. You may be able to structure the top-up separately from your existing home loan.

Let me narrow it down for you

The most important thing is how soon you expect to repay the top-up.

One important caution: even if a bank permits extra repayments, paying off a fixed-rate loan beyond its allowance can trigger a break fee. Get a repayment quote and confirm the conditions before committing. Early repayment chargesBank’s explanation of threshold for early repayment charge unclear

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

Which bank is best for paying off a mortgage top-up early?

In New Zealand, no single bank is universally "the best" for paying off a mortgage top-up early, because early repayment terms depend heavily on how your loan is structured (floating vs. fixed) rather than the bank itself.

Major New Zealand lenders (such as ANZ, ASB, BNZ, Westpac, Kiwibank, and SBS Bank) operate under similar legal frameworks, meaning your ability to pay off a top-up early without penalty comes down to loan flexibility and specific overpayment thresholds.

Key Factors That Determine the Best Bank/Structure for Early Repayment

  • Floating or Revolving Credit (Most Flexible): If your mortgage top-up is on a floating rate or structured as a revolving credit facility (e.g., ASB Revolving Credit, ANZ Flexible Home Loan), you can pay off any amount at any time without incurring early repayment charges (break fees). This makes floating or offset structures ideal if you plan to make frequent or large lump-sum payments.
  • Fixed Rates & Overpayment Allowances: If your top-up is locked into a fixed-rate term, all major NZ banks protect themselves against wholesale interest rate movements by charging an Early Repayment Adjustment (ERA) / break fee if you exceed specific limits. However, most banks allow you some breathing room:
    • Lump-Sum Limits: Many standard fixed loans allow you to pay an extra lump sum (typically up to 5% of the original loan balance per year, though policies vary) without triggering a break fee.
    • Increasing Regular Repayments: Banks often permit you to increase your regular scheduled fixed payments by a certain threshold (e.g., up to 20% or a set dollar cap like $1,000/month depending on the institution) without penalty.

Comparison of New Zealand Bank Approaches

Bank / Lender Type Floating / Revolving Top-Ups Fixed-Rate Top-Ups & Overpayment Rules
Major Banks (ANZ, ASB, BNZ, Westpac, Kiwibank) Fully flexible; pay off or clear completely at any time with zero penalties. Typically allow up to a 5% annual lump-sum overpayment or structured regular payment increases before break fees apply.
Smaller / Regional / Customer-Owned (e.g., SBS Bank, TSB, Co-operative Bank) Fully flexible on floating terms. Some customer-owned or smaller lenders offer competitive flexibility or alternative calculation rules on fixed-term overpayments, though standard wholesale break-fee regulations still apply.

Strategies to Pay Off a Top-Up Early

  1. Keep Top-Ups Separate or Floating: When taking out a mortgage top-up (e.g., for renovations or a car), many borrowers structure it as a separate sub-account. Keeping this specific portion on a floating rate or a revolving credit facility lets you attack the principal aggressively with spare cash without risking fixed-rate break fees.
  2. Utilize Annual Allowances: If your top-up is locked into a fixed term, check your specific loan agreement for your bank's overpayment cap (frequently 5% of the loan value per calendar year) to make lump-sum payments safely.
  3. Automate Fortnightly Payments: Splitting your monthly payments into fortnightly installments results in the equivalent of 13 full monthly payments a year, accelerating principal reduction without technically breaking any fixed thresholds.
Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

AI Overviews · National

Which bank is best for paying off a mortgage top-up early?

AI Overview

There is no single "best" bank for paying off a mortgage top-up early, as the right choice depends entirely on whether you structure the top-up as a floating (variable) rate or a fixed rate. If you structure the top-up as a floating or offset loan, every major bank in New Zealand allows unlimited, penalty-free early repayments.

However, if you choose to lock in a fixed rate for your top-up, banks have strict and differing limits on how much extra you can pay off each year before triggering an Early Repayment Adjustment (ERA/break fee).

Best Banks for Fixed-Rate Top-Up Early Repayments

If you prefer the certainty of a fixed interest rate but want the maximum flexibility to overpay, the major NZ banks limit your fee-free extra contributions using two different methods:

Bank Regular Repayment Increase Limits (Fee-Free) Lump Sum Overpayment Limits (Fee-Free)
Westpac Best for regular overpayments: Increase repayments by up to 20% above the minimum via their app slider. Counts toward any structural early repayment limits.
ASB Increase regular repayments by up to $500 per fortnight (or $1,000 per month). Amounts above this threshold may trigger an ERA.
ANZ Increase regular repayments by up to $250 per week ($500 per fortnight) for the first annual increase. Make a lump sum up to 5% of the current loan balance per year.
BNZ Make adjustments directly in the app; extra payments count toward annual limit. Repay up to an extra 5% of the loan balance annually.
Kiwibank Set regular repayments higher than the minimum. Extra payments count toward an annual 5% early repayment limit.
TSB Increase regular payments up to 3 times per term (max $1,000 per month total increase). Repay up to an extra $10,000 per calendar year fee-free.

Strategic Recommendations for Your Top-Up

  • The Floating/Split Loan Strategy (Highly Recommended): If you plan to clear the top-up aggressively within 1–2 years, ask your bank to place the top-up amount on a floating rate or a revolving credit/offset facility. Even if the floating interest rate is slightly higher than a fixed rate, you can make unlimited lump-sum payments and clear the debt completely without any break fees.

  • Watch Out for Cash Back Claws: If you are moving to a new bank to secure a top-up and they give you a cash incentive, be careful. Paying off your mortgage completely or switching banks too early (typically within 24 to 36 months) will trigger a cashback clawback , forcing you to repay a prorated portion of that money to the bank.

To give you the most accurate structure, could you tell me:

  • What is the estimated size of the top-up?

  • How fast do you realistically intend to pay it off (e.g., months or years)?

  • Do you prefer making regular extra payments or irregular lump sums?

Ask anything

Captured 11 October 2026