REFINANCING & TOP-UPS
Your mortgage can work harder for you.
Most people never ask it to.
Refinancing and top-ups are the two most underused tools available to NZ homeowners. Refinancing can reduce what you pay. A top-up can unlock equity you’ve already built without requiring you to sell. Both are more straightforward than most borrowers expect, and both are easier to arrange through a mortgage broker than through your existing bank.
The Mortgage Guy reviews your current mortgage, compares it against what’s available today, and tells you plainly whether refinancing or a top-up makes sense, what it would cost, and what it would save. If it’s worth doing, we handle the switch.
If nothing needs changing, we tell you that too.
REFINANCING
The bank offered me a better rate when I said I was leaving.
Why didn’t they offer it before?
Because they didn’t have to. This is not a cynical observation. It’s how the system works.
0.9–1.0% Cashback incentive on the loan value
LOYAL CUSTOMERS
0.25–0.4% Retention payment, only when threatened
COST OF STAYING
$30,000On a $500k mortgage over 20 years at 0.3% variance
The OCR fell significantly across 2024 and into 2025. Anyone who locked in at rates above 7% in 2023 or early 2024 and is now coming off a fixed term is sitting in one of the most compelling refinancing windows in years. The difference between what you’re paying and what’s available today can be material.
What we assess when reviewing your refinancing options:
- Your current rate against what’s available across our lender panel today
- Break fee calculation: whether exiting your current fixed term early is worth it after fees
- Cashback clawback position: whether you’re still inside a clawback period and what that means for timing
- Cashback incentives from new lenders: often $3,000 to $6,000 on a mid-size mortgage, which can offset switching costs
- Total cost comparison: rate, fees, cashback, and clawback all factored into a single net position
- Whether your current structure, fixed versus floating split, and loan term still fit your goals
MORTGAGE TOP-UPS
You don’t have to sell to access
the equity in your home.
A mortgage top-up allows you to borrow against the equity you’ve built in your property without selling it. If your home has increased in value, or you’ve paid down a meaningful portion of your mortgage, there may be accessible equity sitting in the property that can be put to work.
Top-ups are commonly used for home renovations, investment property deposits, education costs, debt consolidation, and significant one-off expenses. They’re often the most cost-effective way to access a lump sum because the interest rate is tied to your mortgage rather than a personal loan or credit card.
The process is more involved than most people expect. A top-up is essentially a partial new mortgage application: the bank will assess your current income, expenses, and the purpose of the funds, and may require quotes for renovation work. Legal documentation is also required, typically adding $800 to $1,000 in solicitor fees. We manage this process on your behalf so it moves efficiently and doesn’t stall at a paperwork stage.
When a top-up makes sense:
- Renovations that will add value to the property or improve your quality of life
- An investment property deposit, using your home’s equity to fund the next purchase
- Consolidating higher-rate debt into a single lower-rate facility
- A significant one-off cost where the mortgage rate is materially cheaper than other borrowing options
When a top-up doesn’t make sense we tell you that too, and suggest what does.
WHO THIS IS FOR
This is for you if:
- You’re coming off a fixed term and want to know whether to refix, refinance, or do both
- You locked in at a high rate in 2023 or 2024 and want to know what switching would save
- You got a cashback when you last switched and aren’t sure if you’re still inside the clawback period
- You feel like you’re probably overpaying but don’t know by how much or what to do about it
- You have equity in your property and want to access it for renovations, investment, or another purpose
- You assumed accessing equity meant selling, and didn’t know a top-up was an option
- You want a mortgage broker to run the numbers and give you a clear recommendation, not a list of options with no guidance
The conversation costs you nothing. If there’s money to be saved or equity to be accessed, we’ll show you exactly what that looks like and what it takes to get there.
How it works
Clear numbers. A clear recommendation. Then we handle it.
01
Book a free
15-minute assessment
Tell us who you’re with, roughly what you owe, when your fixed term expires, and what you’re thinking about doing with any equity. That’s enough to start. We’ll ask for the details in the conversation.
02
We run
the full
comparison
We calculate your break fee if relevant, check your clawback position, compare rates across our lender panel, factor in any cashback offers, and produce a net cost comparison. For top-ups, we assess your equity position and check what the bank will require to approve the draw-down.
03
We give you
a clear
recommendation
Stay and refix, refinance to a new lender, take a top-up, or some combination. We tell you which, why, what it costs, and what it saves. No ambiguity. If the answer is to do nothing right now, we tell you that and explain when to revisit.
04
We
manage
the process
If refinancing or a top-up makes sense, we handle the application, coordinate with your solicitor, and manage the switch. You deal with one person throughout. The process is far less onerous than most people assume, particularly when a broker is managing it.
Based in Christchurch, proudly helping Kiwis become homeowners across New Zealand.
From Cape Reinga to Bluff
What Our Homeowners Have To Say
Frequently Asked Questions
What is the difference between refinancing and refixing?
Refixing means staying with your current lender and choosing a new fixed term when your existing one expires. It’s simpler but limits you to what your bank offers. Refinancing means moving to a new lender entirely, which typically gives you access to new-customer rates and cashback offers your existing bank won’t volunteer. We assess both and tell you which produces the better outcome for your numbers. In many cases, the combination of a lower rate and a cashback at a new lender outweighs the modest effort of switching.
I got a cashback two years ago. Am I stuck?
Possibly not. Most cashback offers carry a two to three year clawback obligation, meaning you’d repay the cashback if you leave before that window closes. But even inside a clawback period, the maths sometimes still favour switching if the rate saving is large enough to offset what you’d repay. We calculate this precisely before you make any decision. You may have more flexibility than you assume.
How much equity do I need for a top-up?
Most banks will top-up a mortgage to a maximum of 90% of the property’s current value. So if your home is worth $900,000 and you owe $600,000, you have $210,000 of accessible equity before hitting the 90% threshold. The bank will also assess your income and expenses to confirm you can service the additional debt. We work through your equity position and serviceability in the assessment before you apply, so there are no surprises.
Is refinancing as complicated as it sounds?
Not when a broker manages it. The process requires a new mortgage application, legal documentation through your solicitor, and coordination between your old and new lender. Most borrowers who go direct find it time-consuming and frustrating. When we run it on your behalf, you’re largely removed from the back-and-forth. The main cost is the solicitor fee, typically $800 to $1,000, which is often more than offset by a cashback from the new lender.
When is the best time to refinance?
The clearest trigger is your fixed term expiry date. That’s when you have the most leverage: your existing lender wants to retain you and competing lenders want to win you. Outside of that, any significant change in rates, life circumstances, or financial goals is worth a review. If you locked in above 7% and are coming off that term now, the current rate environment makes this one of the better windows for refinancing in recent years.
Our Financial Services
Your mortgage success is just the beginning.
As your financial advisers, we’re here for every lending decision you’ll face.
First-Home Buyer Coaching
Stop feeling lost in the process. We’ll transform your confusion into confidence with clear guidance from pre-approval through to settlement day. Together we’ll check your KiwiSaver eligibility, structure your deposit mix, and map out every step so you walk into open homes knowing exactly what you can afford and how to win.
You’ll go from “Is this even possible?” to “Here are my keys” with someone genuinely fighting for your success every step of the way.
Investment Property Lending Support
We help structure lending for property purchases beyond your first home. This includes understanding borrowing capacity, equity use, deposit structures, and how different loan setups can impact cash flow and future flexibility.
Our role is to support the lending side of your investment journey, so your finance is set up correctly and sustainably from day one.
Mortgage Warrant of Fitness
Think of it as an annual health check, but for your finances. Just like you’d service your car to keep it running smoothly, your mortgage needs regular attention to make sure it’s still the best fit for you.
A quick review can uncover savings or smarter strategies you might otherwise miss. It’s about keeping your mortgage in top condition, so you can focus on building your future, not stressing over repayments.
Asset Loans
From cars and boats to caravans, motorcycles, and work vehicles, asset finance helps you enjoy the things that make life easier and more rewarding. We’ll help you secure tailored lending with flexible terms, fair rates, and a smooth approval process that fits your lifestyle or business needs. So whether it’s hitting the road, the water, or the next job site, you can move forward with confidence knowing your finance is working for you.
Self-Employment Lending
Traditional banks often struggle to understand self-employed income, making it harder for business owners, contractors, and freelancers to secure finance. We partner with lenders who specialise in self-employed clients, helping present your income in the best light and structuring solutions that reflect the reality of running a business, so your hard work opens doors to homeownership, not roadblocks.
Construction & Business Loans
From building your dream home to tackling major renovations or fueling your business growth, the right loan structure makes all the difference. We help you secure tailored finance solutions that provide the flexibility, staged funding, and competitive rates you need. So whether it’s a new build, an upgrade, or expanding your business, you’ve got the support to bring your plans to life.
Refinancing & Top-Ups
Whether you’re looking to secure a better rate, reduce repayments, or unlock equity for renovations, investments, or life’s big opportunities, refinancing and top-ups can give you more flexibility and control. We’ll review your current loan, compare options across lenders, and structure a solution that supports your goals. So your mortgage works harder for you, not the other way around.
Ready to Turn your Dream into Reality?
Stop wondering “what if” and start planning “when.”
Get the straight answers you need to move forward with confidence.
Book Your Complimentary 15-Minute Assessment.
Find out what you can actually borrow.
No paperwork, no pressure, just clarity.