Lending Fees


Home loan fees

  • Establishment Fee

    This fee is charged at the time your home loan is drawn down. The fee covers the costs of assessing your loan application, document production, security verification, facility drawdown and activation.

    Up to $250.00 Standard home loan | Up to $500.00 Investment loan

  • Loan top up and/or Restructure fee

    This fee is charged if you top up your home loan amount or restructure your home loan. For example: Taking out additional borrowing against your home loan or splitting your loan into multiple loans with different terms. The fee covers document production, security verification, facility drawdown and activation.

    $150.00

  • Loan redocumentation fee

    This fee is charged if you alter your home loan documents after the loan structure has been agreed, prior to your loan settlement. The fee covers document production.

    $100.00

  • Revolving Credit management fee

    This fee is charged monthly to the revolving credit account on the last working day of the month. The fee covers the cost of transactions on the loan account including drawdowns.

    $10.00 per month

  • Lender’s mortgage insurance

    Lender’s mortgage insurance protects the Bank from financial loss in the event you can’t afford to keep up with the home loan repayments. This insurance is only applicable for customers who apply for a Welcome Home loan.

    1% of the loan amount, this can be added to the loan.

  • Transfer of ownership

    This fee is charged when you request a transfer of ownership of security. The fee covers the cost of the application assessment and where applicable, document production, document verification, facility drawdown/activation and security verification.

    $250.00

  • Holding fee

    This fee is charged if your loan remains undrawn for more than three months. The fee covers the holding costs while funds are held in anticipation of the loan drawdown. It will be charged every three months until the loan is drawn down.

    $250.00 per quarter

  • Interest rate fixing fee

    This fee is charged when you re-fix your home loan if it’s manually actioned by a member of the Bank. This fee covers the costs of document production and verification. There is no charge to complete a re-fix through Online Banking.

    $100.00 in branch | $0.00 online

  • Fixed loan prepayment interest

    Interest may be charged if you choose to repay or restructure your fixed term home loan during your fixed rate period. Your prepayment interest is calculated
    based on current interest rates, how long the loan has left within the fixed term period and whether the Bank will suffer a loss. The interest rate used for
    the calculation is based on the closest current standard fixed rate term and remaining time left on your home loan.

    Prepayment interest is not charged if you do not exceed the repayment threshold of $10,000 per calendar year.

    For example: Your total loan was $100,000 on a fixed term of two years at 5% p.a. You choose to repay $50,000 on that loan after one year and five months (leaving seven months on your fixed term). Your current rate would be compared to the Bank’s current six month standard interest rate to determine the amount of repayment interest to be charged. If the current standard interest rate for a six month term was 4.5% p.a., the Bank would be making a loss. You would therefore be required to pay the difference (0.5%) on the $50,000. If the current six month interest rate was higher or you repaid $10,000 or less in a calendar year, you would not be required to pay prepayment interest.

    See description for payment calculation

  • Fixed loan prepayment administration fee

    This fee is charged when you make a part or full repayment on a fixed rate home loan and you’re required to pay fixed loan prepayment interest. The fee covers the administrative assessment costs. This fee is in addition to any fixed loan prepayment interest payable.

    $15.00

  • Rearranged security fee

    This fee is charged when you change the details of the security that is securing your home loan. For example: Boundary adjustments, going from a cross lease to a fee simple or changing securities. The fee covers the costs of the application assessment and, where applicable, document production, document verification and security verification.Charged at the time of an application. This fee covers the costs of the application assessment and, where applicable, document production, document verification, facility drawdown/activation and loan repayment.

    $250.00

  • Holiday payment request fee

    This fee is charged when you request to stop your home loan repayments for a loan repayment holiday of three months or less. There are terms and conditions and criteria that will apply to this request. The fee covers the administration of determining and calculating any change in loan payments to ensure the loan remains within its term.

    $25.00 per request

  • Consent fee

    This fee is charged when you are asking us to consent to a change in the security we hold against your home loan. For example: Subdividing the property or adding easements. The request is sent via your solicitor and the fee is charged to your solicitor. The fee covers the costs of assessing the request for consent, and where applicable, preparation and/or execution of the consent documentation.

    $50.00

  • Loan cancellation fee

    This fee is charged if you cancel the home loan once contracted. The fee covers expenses incurred by the Bank in connection with the contract and the cancellation.

    $250.00

  • Security discharge fee

    This fee is charged when you have paid off your loan and the Bank can discharge or partially discharge the mortgage, on release of a security under the Personal Property Securities Act 1999. The fee is paid by your solicitor on your behalf. The fee covers the cost of preparing a settlement statement and discharge documents.

    $100.00 | $25.00 for each additional security

  • Lender’s Mortgage Insurance Premium

    Where lender’s mortgage insurance is required by the bank, the premiums payable in respect of such lender’s mortgage insurance shall be payable at the time of loan drawdown, by the borrower.

    Details of the cost of such cover can be obtained from the Bank.

  • Loan Cancellation Fee

    Charged to a borrower immediately following the borrower exercising his/her right to cancel a loan contract under section 27 of the Credit Contracts and Consumer Finance Act 2003. The fee covers expenses incurred by the bank in connection with the contract and the cancellation.

    Up to $250.00 where security for the loan was to be new security. Up to $150.00 where security for the loan was to be existing security.

  • Fixed Loan Prepayment Fee

    Charged at the time of a part prepayment of a fixed rate loan. The fee covers the administrative assessment of whether payment of fixed loan prepayment interest is payable. Any fixed loan prepayment interest is in addition to the fixed loan prepayment fee. This fee is waived if the prepayment is not more than 5% of the outstanding loan balance or $10,000.00, whichever is the lesser, in each calendar year. This fee is also waived if the prepayment is for KiwiSaver mortgage diversion payments.

    $30.00

  • Fixed Loan Prepayment Interest

    Charged at the time of a part or full prepayment of a fixed rate loan. Where repayment is made during a fixed rate term, the borrower shall in addition to the principal sum, pay an amount equal to any interest revenue loss to the bank as a result of interest rate changes on amounts of principal so repaid for the period from the repayment date to the end of the fixed rate term. The interest revenue loss is the sum of all interest that would have been charged on the loan or that part of the loan which is being prepaid, for the period from the date such amount is prepaid in reduction of the loan until the end of the fixed rate term, calculated at the current interest rate, minus the total resulting from the same calculation with the interest rate being the fixed rate that would apply if an application was made as at the day of such prepayment for the balance of the fixed rate term. If the bank does not offer a loan with a fixed rate term equivalent to the balance of the term of the fixed rate loan that is to be prepaid, then the fixed rate term offered by the bank that is closest to the unexpired portion of the fixed rate term of the fixed rate loan that is to be prepaid, (whether shorter or longer), shall apply. If the calculation results in a negative amount, no fee is payable.

    See description for payment calculation

Personal loan fees

  • Establishment fee

    This fee is charged at the time your personal loan is drawn down. The fee covers the costs of assessing your loan application, document production and security verification, facility drawdown and activation.

    $150.00

Personal overdraft fees

  • Establishment fee

    This fee is charged at the time your personal overdraft is drawn down. The fee covers the costs of assessing your loan application, document production and security verification, facility drawdown and activation.

    $30.00 New facility | $20.00 Increase existing facility

  • Service fee

    This fee is charged monthly to the overdraft account on the last day of the month. The fee covers associated maintenance and reporting costs.

    $3.00 per month

Default Fees

  • Payment Default Fee

    This fee is automatically charged if your loan has been in arrears for 14 days. You will be charged weekly until the arrears have been paid in full. The fee covers the costs of reporting and liaising with the borrower.

    $35.00 per week

  • Rates demand fee

    This fee is charged if we have to pay the rates on your behalf to the Council. The fee covers the costs of liaising with the borrower, the local authority and, where applicable, payment of the rates arrears to the local authority.

    $50.00

  • Insurance arrears service fee

    This fee is charged if we receive notice from your insurer that your premium is unpaid for the property or asset held as security for your loan. This fee is in addition to any insurance premiums that the Bank may pay on your behalf. The fee is added to your loan and covers the costs of liaising with the borrower/ insurer and payment of the insurance arrears to the insurer.

    $50.00

  • Loan demand issue fee

    This fee is charged if you have defaulted on your loan repayment and we need to issue a demand letter asking for payment. The fee covers the costs of preparing and sending the demand letter.

    $50.00

  • Property law act notice fee

    This fee is charged if your loan repayments continue to be in default after we have issued a demand letter asking for payment. The Bank’s lawyers will issue a property law act notice on the Bank’s behalf. The fee covers the costs of liaising with the Bank’s solicitors and document preparation.

    $100.00

  • Mortgagee sale proceedings

    This fee is charged to your loan account either on settlement of the sale of the mortgaged property or when the mortgagee sale proceedings are terminated. You will also be required to pay all fees charged by valuers, solicitors, real estate agencies and debt collection agencies. The charges payable to the Bank cover the cost of liaising with the various third parties during the mortgagee sale process.

    $100.00 per hour

Additional Costs you should be aware of

  • House insurance

    You’re required to insure and keep insured all assets that are charged or mortgaged to the Bank. The payment of the insurance premiums are your responsibility. You should contact an insurer to find out the cost of such insurance. The Bank can provide an insurance quote and can also provide details of approved insurers.

  • Rates

    You’re required to keep your rates payments up to date, associated with any property which is charged or mortgaged to the Bank. Your local authority can provide details of the rates payable.

  • Leasehold properties

    Where the mortgaged property is a leasehold, you’re required to pay the ground rent to the lessor. The lessor will be able to provide details of ground rent payable.

  • Unit titles

    Where the estate or a stratum estate is under the Unit Titles Act 2010, you’re required to punctually pay to the body corporate all fees set by the body corporate.

  • Collateral securities

    You may be required to pay the costs associated with arranging the preparation of any specific security documentation or legal advice that the Bank may think necessary to enable it to assess any security arrangements that are outside the Bank’s normal lending criteria or policy.

  • Maintenance

    You are required to keep all buildings and other improvements on the land covered by a loan in favour of the Bank, in good repair and condition.

  • Registered Valuer’s report

    If you’re required to obtain a registered valuers report for an application, the report is required to be completed by a registered valuer and on terms satisfactory to the Bank and is to comply in all respects with the Residential Valuation Standing Instructions. Such report shall be addressed to the Bank and is to include mortgage recommendations sufficient for the Bank’s requirements. The costs of such a report are the responsibility of the borrower. Registered valuers can provide details of the costs involved.

  • Engineers reports

    If you’re required to obtain an engineer’s report as part of an application, the report will need to be completed by an engineer satisfactory to the Bank. The cost of any engineer’s report is the responsibility of the borrower. Engineers can provide details of the costs involved.

  • Additional insurances

    The Bank may require you to arrange such insurance as Tailored Loan Coverage, Mortgage Redemption Insurance or Term Life Insurance as a condition of loan approval. You’ll be required to pay all premiums relating to the insurance cover. Details of the cost of such cover can be obtained from the Bank.

Costs/Changes relating to the following are also often necessarily incurred due to the requirements of the bank’s mortgage and/or loan approval.

Effective 1 October 2018. Lending fees are subject to change without notice.