I have a residential house mortgage with BNZ, it comes off fixed term in December.
I got an email saying that i will be charged a 'rate lock fee' which is refundable, and 'roll over fee' if i chose to rate lock something now.
The $500 rate lock fee i have heard off, but it is still huge.
But the $150 'roll over fee'? What the h*&^ is that???
I think i'm going to complain to the commerce commission. If anyone has any info or similar experience would you mind sharing?
PS - i am also nearly certain that even if i dont rate lock any rates and apply for another fixed term i think i'm going to get charged too!