Mortgage Split Calculator
Frequently asked questions
What is a mortgage split and how does it work in NZ?
A mortgage split divides your home loan into two or more portions with different rate structures. The most common approach is fixing a majority (60–80%) for rate certainty while keeping a portion floating for repayment flexibility. The blended rate is a weighted average. For example, fixing 70% at 5.99% and floating 30% at 7.50% gives a blended rate of approximately 6.44%.
Should I fix all of my mortgage or just part of it?
Fixing your entire mortgage gives certainty but eliminates flexibility — you cannot make extra repayments without potentially incurring a break fee. Keeping a floating portion allows unlimited extra repayments. Many NZ borrowers split: fix the majority for certainty and keep 20–30% floating.
What is a blended mortgage rate?
A blended rate is the weighted average interest rate across your fixed and floating portions. It represents the effective cost of your overall mortgage. This calculator computes it automatically based on your split structure and rates.
Can I split my mortgage with any NZ bank?
Yes, most NZ banks allow you to split your home loan into multiple portions with different rate types and terms. The minimum portion size varies by lender — typically $50,000 or more. You can have multiple fixed terms (e.g., part on 1 year, part on 2 year) as well as a floating portion.