We'll negotiate your interest rates for your mortgage

What you need to know about
Mortgage Refixes



Every week, we negotiate millions of dollars of mortgages on behalf of our clients at no cost.  We have a constant stream of data seeing what the best rates are and work with your bank to negotiate that.

If you are looking to get the best rate from your bank and want help, complete the form below and one of our advisers will be in touch asap.

Click for interest rate FAQs

Yes, as part of our discussion we will discuss whether the structure of your mortgage is still correct for you.  If it’s not, we will discuss what a better structure might be for you.  There is no additional cost for this.

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 – 15th March 2021

Lender Upfront Trail Refix
ANZ 0.85% N/a $150
BNZ 0.55% 0.15% N/a
ASB 0.85% N/a $150
Westpac 0.60% 0.20% N /a
Sovereign Home Loans 0.60% 0.20% N/a
ASAP Finance Limited Fee Charged N/a N/a
Avanti Finance Up to 0.80% N/a N/a
Cressida Fee Charged N/a N/a
DBR Fee Charged N/a N/a
First Mortgage Trust Fee Charged N/a N/a
Heartland Bank (Reverse Mortgage) 1.50% N/a N/a
Liberty Financial 0.60% 0.15% N/a
NZCU (Personal Loans) 1.00% N/a N/a
RESIMAC 0.60% 0.15% N/a
SBS Bank 0.80% N/a $150
Southern Cross Fee Charged N/a N/a
The Co-operative Bank 0.70% N/A $150

It doesn’t cost you anything for us to negotiate and refix your rates for you.  We are paid by the banks for our time.  Why?  Our service replaces the cost a branch or phone centre employee.  There is no additional cost or fees added on for you.

Typically break fees aren’t negotiable with the bank.  However we will find out what they are going to be and calculate whether it is worthwhile breaking your current rate.

It varies from bank to bank.  With most banks the process:

  • a quick discussion
  • you send us an email asking us to request interest rates from the bank
  • we negotiate the rates with the bank
  • we have another discussion about which rate is best for you
  • you can confirm this to us via a short email

The whole process takes around 20 minutes.

We can negotiate with most of the main banks:

  • ANZ
  • ASB
  • BNZ
  • Westpac
  • Sovereign Home Loans
  • SBS
  • Co-Operative
  • Bank of China

We can also talk with the non-bank lenders such as Resimac, Pepper Money, Liberty Financial and others.  If you’re unsure, give us a call and we’ll let you know.

As above, sometimes a bank just isn’t looking for you as a client. In this instance, they can either decline you or make the terms of your lending so ridiculous that you either accept (sucker!) or you go away. We know what banks have an appetite for and send you to the right bank without you shopping around banks.

No cost, no catch. Just good advice

Chat to us any time you have a question.

The Mortgage Lab is your friendly, nationwide Mortgage Advice Company.
Get in touch with our experienced team and we’ll help you with your next projects.

Copyright 2020 – Mortgage Lab. All Rights Reserved. Visit www.mortgagelab.co.nz for more information.


The Mortgage Lab is a Licensed Financial Advice Provider. Our Financial Services Provider number is 587228