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Get Friendly Expert Mortgage and Insurance Advice

Whether you’re looking to buy your first home, already have a mortgage, or are looking to invest, we’re here to help you through the sometimes quite daunting process of getting a new mortgage and protecting you with Life and Health insurance.

We make sure everything is set up correctly, help satisfy the bank’s conditions, and work tirelessly to get you the best mortgage rates and conditions… nothing goes in the too hard basket, that’s a promise!

And the best part? All this at usually at no cost to you!

That’s right, we don’t charge you for our services, so get in touch and find out how we can save you time, hassle, disappointment and money, while making your house purchase a smooth and seamless process.

The 5 Steps To Getting A Mortgage

We’ll meet and discuss your needs

We’ll go and get approval from the best bank for you

Pre-approval!

We’ll negotiate interest rates and meet to talk about how you’d like to structure your mortgage

You’ve got yourself a house!

Let us take the stress out of your next property purchase

You’re so close, you’ve been scouting the property market for months, you’ve been to countless open homes and talked to seemingly every agent in town and now you’re ready, you’ve found it… the one! Your dream home or investment opportunity!

Unfortunately, now comes the hard bit… getting it over the line. You need to tick many boxes and finance approval is one of the big ones.

Our mortgage brokers make sure you get the best deal, minus the hassle. Our insurance brokers then make sure it’s fully protected.

We will walk you through the process of buying your first (or next) property, making sure to provide you with crucial information every step of the way, pulling out all the stops to get you over the line in time so that you don’t miss out on your dream home or investment opportunity.

Important Information about The Mortgage Lab

If you would like this important information as an A4 PDF, click here.

Our services include:

  • Loans including mortgages, reverse mortgages and personal consolidation loans
  • KiwiSaver

Please refer to each adviser’s profile page for their particular service.

 

Almost all Mortgage Lab services are at no direct cost to you as our brokers get paid a commission by the banks and other lenders when a mortgage is finalised or refixed.

The exceptions to this:

  • If a mortgage is paid off or discharged within 27 months, a fee may be incurred.  See our FAQ: What if I sell my home or refinance my mortgage shortly after using a mortgage broker?
  • Finance companies may require a fee to be added to the loan rather than paying us a commission. You’ll always be made aware of these fees long before they are locked in.
  • If, following the service provided by the adviser, you elect not to continue engaging Mortgage Lab to settle the mortgage or finalise the insurance product, the adviser may charge you an hourly rate of $250 for the work provided.  The maximum charge we will typically invoice for is $2,500.

The commissions paid are below.  These commissions are accurate at the time of writing – 21st June 2022

LenderUpfrontTrailRefix
ANZ0.85%N/a$150
BNZ0.55%0.15%N/a
ASB0.85%N/a$150
KiwiBank0.55%0.15%N/a
Westpac0.60%0.20%N /a
Sovereign Home Loans0.60%0.20%N/a
TSB0.85%N/aN/a
ASAP Finance LimitedFee ChargedN/aN/a
Avanti FinanceUp to 0.80%N/aN/a
CressidaFee ChargedN/aN/a
DBRFee ChargedN/aN/a
First Mortgage TrustFee ChargedN/aN/a
Heartland Bank (Reverse Mortgage)1.50%N/aN/a
Liberty Financial0.60%0.15%N/a
NZCU (Personal Loans)1.00%N/aN/a
RESIMAC0.60%0.15%N/a
SBS Bank0.80%N/a$150
Southern CrossFee ChargedN/aN/a
The Co-operative Bank0.70%N/A$150

Our list of 27 approved providers is as follows

Main Bank Lenders

  • ANZ Bank of New Zealand Limited
  • ASB Bank Limited
  • Bank of China Limited
  • Bank of New Zealand
  • KiwiBank
  • The Co-Operative Bank Limited
  • SBS Limited
  • Sovereign Home Loans (AIA Sovereign)
  • Westpac Banking Corporation
  • TSB

Non Bank Lenders

  • Pepper New Zealand
  • Resimac Financial Services
  • Liberty Financial
  • ASAP Finance
  • Avanti Finance
  • Basecorp Finance
  • Cressida Capital One
  • DBR
  • First Mortgage Trust
  • General Finance
  • Metro Finance
  • Pioneer Finance
  • Silver Harbour Capital
  • Southern Cross Partners
  • Xceda
  • Heartland Bank Limited (Reverse Mortgages)
  • NZCU Trustee (Personal Loans)

Please refer to each individual adviser for the full list of lenders that adviser can work with.

We may also receive a referral fee from some partners.  These include:

  • XE.com
  • Reapify Car Loans
  • Prospa Business Loans
  • Rothbury
  • Maurice Trapp Group

Mortgage advisers (often called mortgage brokers) are paid by the bank when a mortgage is drawn down.  If that mortgage is discharged (repaid and closed) within a short amount of time – typically 27 months – the broker must repay some or all of the commission (often referred to as a clawback).  In this instance, the mortgage broker has essentially done the work for no pay.

We reserve the right to charge for our time if a clawback is incurred.  The fee will be the estimated amount of hours the mortgage took at an hourly rate of $250 per hour.  Unlike other fees, such as Break Fees from the bank, we have capped the amount we can charge clients at $2,500.

If you are refinancing or selling your house, the best thing to do is immediately talk to your adviser and discuss if any clawback fees will be charged.

Our Advisers can work with the following KiwiSaver providers:

  • Generate
  • NZ Funds
  • Booster
  • ANZ OneAnswer
  • Koura

Please check the individual adviser profile pages to see who that particular adviser works with.

From time to time we may receive additional referral payments from our business partners.  Some advisers may receive payments for referring Life and Health insurance, KiwiSaver, currency exchange, Real Estate Agents or Fire and General insurance.  Mortgage Lab and the advisers do a significant amount of due diligence to make sure that all referrals are to companies of the highest quality and compliance standards.  The decision to refer to a partnering business is based on quality service first and the payment received second.

From time to time a product provider may give us a gift, hamper or ticket to an event.  The decision to refer to a product provider is based primarily on the best product for the client, not because of any gift received.  We follow a six-step advice process to assess which product is best for you.

We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:

  • Meet the standards of competence, knowledge and skill set out in the Code of Conduct 
  • Give priority to the clients’ interest and
  • Exercise care, diligence and skill and
  • Meet the standards of ethical behavior, conduct, and client care set out in the Code of Conduct.

Mortgage Lab holds a Full license as a Financial Advice Provider.  All Advisers are Financial Advisers (FAs) belonging to Mortgage Lab’s license.

Mortgage Lab’s Financial Service Provider number is: FSP587228

Our office contact details are:

Address: Level 2, 14 Jervois Road, Ponsonby, Auckland 1011
Phone: 09 886 9779
Email: info@mortgagelab.co.nz
Website: www.mortgagelab.co.nz

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  • No one likes being rejected. Some of us still blush when we remember being turned down by Patrick Summers at the Year 9 dance. That’s just for instance. We’re not…

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  • On 16 June 2021, the Government announced that the Reserve Bank has been given the authority to use debt-to-income lending restrictions as another tool in the toolbox to help settle…

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  • First Home Loan Versus First Home Grant

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  • 申请房屋贷款就像创建Tinder个人资料一样。您想使自己的申请有足够的有吸引力,让银行“向右滑动”选择你。他们对您的照片不感兴趣,但他们确实想知道您有足够的存款。他们不在乎您是否喜欢去滑板冲浪,但是他们确实在乎您是否有收入来支付贷款。他们不在乎您是否喜欢阳光与沙滩,但他们确实在乎您是否能为自己的钱负责。 

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  • Turn Key, Progress Payments, Contract, Construction, Building, New Home

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  • 对冲账户(Offset Account)是与房屋贷款账户相关联的日常交易账户。顾名思义,它的功能就是对冲您房屋贷款帐户中的本金,因而降低您所需要支付本金所产生的利息。

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  • What happens if a Registered Valuation isn't high enough?

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  • Preparing For Your Mortgage - Documentation

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  • Revolving Credit, Floating Account, Mortgage

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  • Ready to Buy: 3 Things First Home Buyers Can Do Today

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  • How Do I Get a Mortgage

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  • How Do I Get a Mortgage

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  • Flatmates and your mortgage

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  • Stop looking at the Performance of House Prices

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  • 2 Bank Account Tips the bank will never tell you

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  • OCR Announcement - 16th March 2020

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  • How Does A Student Loan Affect A Mortgage Pre-Approval

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  • How does a Credit Card affect your mortgage?, bad debt

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  • 2022 Predictions Interest Rates / House Prices

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  • If you quit smoking, how fast could you pay down your mortgage

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  • City focus - Tauranga

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  • The one bank trap and the several bank nightmare

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  • How Do I Calculate Yield?

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  • The Rule of 72

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  • Buying an investment property is a different bag of hedgehogs than buying a property for yourself. When you’re buying your own home it’s (arguably) totally reasonable to debate for hours…

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  • Can I buy an investment property?

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  • Just a couple of years ago, the use of the words “cost fluctuation” in the residential building industry was about as common as the use of the word “liquefaction” prior…

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  • 3 things to do now to prepare for a recession

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  • Typically, when you use a mortgage calculator, you want to know what your mortgage payments will be (obviously). A couple borrowing, say, $800,000 for an investment property might want to know…

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  • The Credit Contracts and Consumer Finance Act (CCCFA) came into force on the 1st December 2021 and was largely meant to protect consumers from high-interest loan sharks. Unintended effects of…

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  • Recently Labour and National shocked New Zealand by not only agreeing on something but also working together on a new housing bill: the Resource Management (Enabling Housing Supply and Other…

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  • If you’re interested in property investment in New Zealand, you’re likely no stranger to the increased lending restrictions put in place this year. These restrictions were intended to discourage small…

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  • Interest Only Mortgages

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  • For many of us, the game Monopoly informs our earliest understanding of how investment property works. And so we are given to believe that it’s fairly straightforward to grow from…

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  • On 16 June 2021, the Government announced that the Reserve Bank has been given the authority to use debt-to-income lending restrictions as another tool in the toolbox to help settle…

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  • Can I buy an investment property?

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  • On 23 March the government announced policy changes to the rules governing the property market. The intention behind these new rules is to reduce access to finance for property investors…

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  • Revolving Credit Tax Trap for Investors

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  • Updated 16th February 2021 It might feel like decades ago, but on 30th April 2020, the Reserve Bank announced the removal of LVR restrictions on banks in New Zealand.  In…

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  • Apartments are a very tempting purchase, especially for first-home buyers. They tend to cost less and therefore be much more within reach. And you can pretend you’re living in Manhattan,…

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  • Below is a list of standard mortgage terms to help buyers and investors understand the finance journey.  This list is taken from “The Successful First Home Buyer” book. Asking price…

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  • 3 Things Investment Property Buyers Can Do To Get Ready

    在买人生中的第一套房子过程中可能会令人困惑,准备好买房的关键是要有条理。以下三件事是您可以提前做,以准备申请房屋贷款。

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  • 3 Things Investment Property Buyers Can Do To Get Ready

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  • Revolving Credit Tax Trap for Investors

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  • When to get your Accounts done

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  • OCR Announcement - 16th March 2020

    The Reserve Bank today announced that the OCR would be reduced by 0.75% to a new level of 0.25%. International markets around the world have been severely affected by the…

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  • 2022 Predictions Interest Rates / House Prices

    It’s the time of the year when the Mortgage Lab buffs up our Crystal Ball, gazes into the infinitely complicated world of economics and comes up with sufficiently generic interest…

    Read More

  • City focus - Tauranga

    This month our Mortgage Advisers take a good look at the property sector in the beautiful city of Tauranga. Tauranga Property Prices It would be fair to say that property…

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  • Meth and investment properties - it's worse than you think

    If you’re looking in the property market at the moment, you’ve no doubt come across the dire warnings surrounding methamphetamine, meth or “P”. The chemical process for making P is incredibly…

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  • 4 Tips To Buying By Tender

    Recently we looked at some tips for bidding at an auction.  But what if the house you love is for sale by tender?  Tenders are much less time-pressured than auctions…

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  • Purchasing at Auction - A Step By Step Guide

    Buying at auction can be exciting but also intimidating. Much like your year 5 school production, knowing what to do and when to do it will help you feel more…

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