Buying guide
Fixed, floating or split mortgage?
Understand your options
6 December 2023
AI summary
Choosing the right mortgage involves understanding your options. A fixed rate mortgage provides payment certainty for a set term but limits extra repayments and may have break fees. A floating rate offers flexibility to make lump sum payments but your repayments can change at any time.
Many Kiwis opt for a split mortgage, combining fixed and floating portions to balance security and flexibility. Other structures like offset or revolving credit loans also offer unique benefits. The best choice depends on your financial situation.
How does a fixed mortgage work?
Choosing a fixed rate term
There may be some repayment flexibility with a fixed mortgage
How does a floating mortgage work?
Why do floating rates change?
What are the different types of mortgages?
Examples of possible mortgage structures
Getting experienced advice
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