It is a good idea to shop around to find out which bank can offer you the best arrangement to suit your needs. You can talk directly to each bank or you can go through a Mortgage Broker. In New Zealand, mortgage brokers do not charge you (the customer) any fees. These fees are paid for by the bank.

In general terms, many banks will loan based on a 10% deposit. Some require a valuation of the property and will only lend based on the valuation or the purchase price (whichever is the lower).  Interest rates always fluctuate, and the following website provides a quick snapshot of all banks' current interest rates. 

The following major NZ banks and selection of mortgage broker websites offer further information. Most will be able to help you on-line before you arrive in the city including setting up a bank account. Let us know if you are having any problems with this process.


Mortgage Brokers

(with Otago Southland offices) 

  • Mike Pero Mortgages
  • Mortgage Link
  • Roost Mortgages