Refix Comparison Tool
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Frequently asked questions
What is a mortgage refix in NZ?
A refix means agreeing a new fixed interest rate with your existing lender when your current fixed term expires. It differs from refinancing, which means switching to a new lender. Refixing at term end incurs no break fee and minimal paperwork — you simply choose a new rate and term from your bank's current offerings.
Should I fix for 1 year or 2 years in NZ?
The right choice depends on your view of rate movements and your need for certainty. A 1-year term gives flexibility to refix at a lower rate if rates fall, while a 2-year term provides longer certainty. Use this tool to compare the total 2-year interest cost of each option — the lowest nominal rate is not always the cheapest over 2 years.
Where can I find current NZ fixed mortgage rates?
Check your bank's website or a rate comparison site like interest.co.nz for current rates. Enter those rates into this tool to find the cheapest option for your specific balance and loan term.
How does this refix comparison tool work?
Enter your outstanding balance, remaining loan term and the rates for each option your lender is offering. The tool calculates total interest paid over a 2-year horizon for each option — including the cost of re-fixing after a shorter term expires. This gives a like-for-like comparison regardless of term length.