Expect mortgage rates to fall in the short term so be aware if this when fixing.
(not that they are huge at the moment.)

Try a Mortgage broker - they got me a good deal cashback wise a few years ago.
You can always ask the broker and shop around as well."ended up moving from Kiwibank to Westpac.

Also don't be afraid to haggle on monthly fees - I got mine wiped for all accounts by just asking.

KrazyKid:

 

Expect mortgage rates to fall in the short term so be aware if this when fixing.
(not that they are huge at the moment.)

 

This... Mortgage rates are about to take a pretty big cut in the next 3-6 months, 

+ if it really does become a Corona-pocolypse, the banks will be wanting to push money out the door, and will probably start offering some really good deals...

BNZ are very good to deal with and won't move away from them!

Last month we were offered the following for 12 months.

ANZ: 3.39% and $5000 cash

ASB: 3.39% and $2500 cash

Kiwibank: 3.35% and $4000 cash.

We tried a broker and they were rubbish.

But with what's going on at the moment I think we're going to leave it for a couple of months to see what happens.

Linux:

 

BNZ are very good to deal with and won't move away from them!

 

When we bought the house we live in now, back in 2006 BNZ didn't offer us a home loan - despite having a personal account for almost ten years and a business account for three years. 

At the end we signed with ANZ.

But that was 14 years ago...

Thanks everyone! We have some time up our sleeve so not in a big rush. Will see what the banks say!

Work colleague with TSB approached his bank manager for renewal of mortgage as current 2 year term expires in April. He still has a cashback refund clause that will not expire for another year which meant if he switched bank, he would have to pay half amount of cashback provided 2 years earlier by TSB, admin fees and lawyer fees again with new bank. He went back to TSB to re negotiate and they gave him $4k cashback on 3.39% at 24 months.

billgates:

 

Work colleague with TSB approached his bank manager for renewal of mortgage as current 2 year term expires in April. He still has a cashback refund clause that will not expire for another year which meant if he switched bank, he would have to pay half amount of cashback provided 2 years earlier by TSB, admin fees and lawyer fees again with new bank. He went back to TSB to re negotiate and they gave him $4k cashback on 3.39% at 24 months.

 

Ok that is very interesting. I will give TSB a call.

https://www.heartland.co.nz/home-loans

2.89% one year fixed if you have at least 20% equity and live in the house.

One thing to bear in mind is  the incidental costs that will occur when changing banks. Sometimes the new bank may pay much of this. Even so the intangible costs on their own can out weigh any advantage.

Under 3% for 2 years, that is a very good rate. no doubt Heartland are pricing in the expected .25-.5 rate cut due at the end of the month but wow.

We are due to settle on our new house at the end of this month, have sent our ASB manager an email about the rates, we'll see what happens.

tchart:

 

Currently with TSB. Looking at switching.

 

Westpac seem to have the best rates but dont have any incentives.

 

Has any one seen any good deals or incentives for mortgages recently?

 

Thanks

 

We recently left Westpac (18months ago) due to them not offering competitive rates at the time. They seem to be more competitive now.

Changed to Kiwibank as they offered the best rates and seem to be competitive.

I would swap based on the offer, not on who the bank is.

I have bank accounts with all the major banks (long story) and had a friend recently ask me who the best is. 

My reply: none. They are all bad, just bad in different ways.