Mortgages
Getting the right home loan shouldn’t feel complicated. We cut through the noise, compare lenders, and help you lock in a mortgage that matches your life.
How it works
See exactly what to expect when you work with us - a clear, step-by-step approach to understanding your borrowing options and choosing a loan structure that fits your situation.
First home buyers
Practical guidance to help you navigate your first purchase with confidence, clarity, and no unnecessary complexity.
Next home buyers
Support to help you plan your next move, manage equity, and plan the move from your current home to the next with a clear lending structure that works.
Refinancing & mortgage strategy
Whether you’re looking for a better rate, coming up for refix, or wanting more out of your mortgage, we review your loan and help you choose a smart structure & strategy for your goals.
Investment property financing
Strategic advice to structure lending for investment properties with long-term performance and flexibility in mind.
Development financing
Clear guidance through development funding, from feasibility to completion, with a focus on structure and risk management.
See today's lowest rates
Use our rate comparison tool to see what NZ lenders are actually offering right now. Compare rates and terms in one place.
Mortgage calculators
Quickly work out repayments, borrowing power, equity and more. Use our free tools to understand your numbers before you make a move.
Loan options
Learn about the different loan options & structures. Explore what options might be the best fit for you.
What does it cost?
Our services at Cooper Mortgages are free! Once you settle on a loan, the winning lender pays us a commission which comes at no extra cost to you.
*Please note that in some cases there may be an exception to this rule (ie in the instance of a construction or development loan) you will be made well aware of these charges before we begin. For more details, you can check out our disclosure statement.
Mortgage FAQ's
Quick answers to the questions we get asked most about home loans, borrowing power, and the costs involved in buying a property.
Do I need a mortgage adviser, or can I just go straight to the bank?
You can go straight to the bank - but they’ll only ever show you their products.
A mortgage adviser works for you, comparing options across multiple lenders, structuring the loan properly, and negotiating on your behalf. For most people, it means better rates, smarter structure, and fewer costly mistakes.
Can i get a better deal going direct to the bank?
Sometimes people think going direct means getting a “special deal” - but in reality, banks don’t usually reserve better rates or offers just for walk-ins.
Mortgage advisers work with banks every day, understand how each lender assesses deals, and know where there’s room to negotiate (rates, cash contributions, fee waivers, structure). In many cases, people end up with the same or better outcome - with far more clarity and support along the way.
Does it cost me anything to use a mortgage adviser?
In most cases, no.
Mortgage advisers are usually paid by the bank once your loan settles - meaning you get expert advice, strategy, and support without paying a fee.
There are some exceptions to the rule where lenders do not offer commissions (ie involving development finance). If this is the case and there are any fees in your situation, you’ll always be told upfront.
When should i talk to a mortgage adviser?
Ideally, right from the beginning (even before you have a property in mind). This way we can save you time and stress while supporting you every step of the way. However, no matter what stage of your home buying journey you’re in - even if you already have a signed sales agreement, we are here to help! Pick up the phone or book your discovery call today.
What information do you need to get started?
Usually just:
- A quick conversation
- Proof of income
- ID
- A rough idea of your goals
We’ll tell you exactly what’s needed - and help you gather it without stress.
How much I can actually borrow for a home?
Your borrowing power depends on what you earn, what you spend, your debts, dependants - and how the loan's structured.
On average banks will lend up to 6x your gross annual income.
You can also play around with our tools like our repayment calculator so see what kind of payments you can afford.
A chat with an adviser and proper assessment will tell you what you can actually borrow - so you're house-hunting with confidence and not guessing.
What’s the difference between pre-approval and full approval?
- Pre-approval: The bank indicates how much they’re willing to lend, subject to conditions (like finding a suitable property).
- Full approval: The loan is locked in for a specific property.
Pre-approval is your green light to start seriously looking - but it’s not the final step.
Note also that in some cases pre-approval may not be available and banks will only give full approval on a live deal (accepted conditional offer)
Is now a good time to buy, or should I wait?
There’s no single “right” time - only the right time for you.
We look at your personal situation, cash flow, goals, and risk tolerance, not headlines. Sometimes waiting makes sense. Sometimes acting sooner saves you tens of thousands long-term. A quick chat can bring a lot of clarity.
What makes you different from other mortgage advisers?
We don’t just focus on getting you approved - we take the time to understand how this loan fits into your life and what you’re working towards. That means clear, jargon-free explanations, no pressure, and advice that’s based on what’s genuinely best for you.
We also offer a wrap-around approach, with guidance on mortgages, insurance, and KiwiSaver, so everything works together rather than in isolation. And our support doesn’t stop at settlement - we’re here for the long term, as your life, goals, and circumstances evolve.
Can you help if my mortgage is coming up for refixing?
Yes - and this is one of the most important times to get advice.
Re-fixing brings a great opportunity to re evaluate you loan and structure. We can give you a free mortgage review and present you with all your options moving forward so you can structure your loan in a way that's aligned with your current and future goals.
What if I’m self-employed or my income isn’t straightforward?
You’re not alone - and yes, we can help.
Different lenders assess self-employed income differently. Knowing which bank to approach and how to present your numbers can be the difference between a yes and a no.
What extra costs I should be aware of when buying a home?
Yes - there are a few common ones, but the good news is many are manageable and often covered by cashback or negotiation.
Typical costs include:
Building & LIM reports
Lawyer fees
Valuation fees
Bank application fees (sometimes waived)
Insurance (if required by the lender)
Often, cashback or lender incentives can cover some of these, and we’ll help you plan so there are no surprises.
What is LVR and why does it matter?
LVR (Loan-to-Value Ratio) is the percentage of the property value you’re borrowing.
It’s a key measure lenders use to assess risk.
Example:
If a home is worth $600,000 and you borrow $480,000, your LVR is 80%.
If you borrow $540,000, your LVR is 90%.
Why LVR matters...
Lenders see higher LVR as higher risk because there’s less equity in the property. That can affect:
Which lenders you can use
Whether you need extra conditions
Your interest rate options
Whether you can get approval at all
What LVR means for you...
Lower LVR (e.g. 80% or less) usually gives you more lender options, better rates, and fewer restrictions.
Higher LVR (e.g. above 80%) can mean fewer options and sometimes higher rates or extra conditions.
Very high LVR can require a guarantor, or a specific type of lender.
How much deposit do I really need to buy my first home?
Most people think they need 20%.
You might not.
First home buyers can often get in with 5–10%, depending on your situation and the lender.
Your deposit can come from:
Savings
KiwiSaver
First Home Grant (if eligible)
Gifted funds from family
Or a mix of all of these
But here's what banks really care about:
Your income. Your expenses. Job stability. And whether the loan actually fits your financial picture.
The deposit gets you in the door - the rest gets you approved.
How do I use my KiwiSaver to help with my first home?
If you've been contributing for 3+ years, you can use it toward your first home deposit.
Here's how it actually works:
1. Check you're eligible
You need to be a first home buyer (or qualify under second-chance rules) and buying a place you'll live in.
2. Work out how much you can use
Almost your entire balance. You just leave $1,000 behind.
3. It becomes part of your deposit
Your KiwiSaver gets paid to your solicitor at settlement—and counts toward what the bank needs.
4. Timing is everything
This is where people get stuck.
Too early? Too late? Either one causes problems.
It has to line up with your purchase agreement and settlement date. (don't worry, we help you with this!)
For many first home buyers, KiwiSaver is the key that turns “one day” into “ready now.”
How much I can actually borrow for a home?
Your borrowing power depends on what you earn, what you spend, your debts, dependants - and how the loan's structured.
On average banks will lend up to 6x your gross annual income.
You can also play around with our tools like our repayment calculator so see what kind of payments you can afford.
A chat with an adviser and proper assessment will tell you what you can actually borrow - so you're house-hunting with confidence and not guessing.
What information do I need to get started?
Usually just:
- A quick conversation
- Proof of income
- ID
- A rough idea of your goals
We’ll tell you exactly what’s needed - and help you gather it without stress.
What extra costs I should be aware of when buying a home?
Yes - there are a few common ones, but the good news is many are manageable and often covered by cashback or negotiation.
Typical costs include:
Building & LIM reports
Lawyer fees
Valuation fees
Bank application fees (sometimes waived)
Insurance (if required by the lender)
Often, cashback or lender incentives can cover some of these, and we’ll help you plan so there are no surprises.
What's the actual process to buy a first home in NZ?
Buying your first home can feel overwhelming. But it's a clear path:
1. Work out what you can afford
We help you understand your borrowing power, deposit, and get pre-approval - so you're ready to move when the right home shows up.
2. Start house hunting
3. Make an offer (with conditions)
Your offer includes protections: finance approval, building report, LIM report.
4. Go unconditional
Conditions met? The home is officially yours.
5. Finalise your loan
We handle the paperwork and help coordinate everything with your lender & solicitor.
6. Settlement day - you get the keys
Funds transfer. Keys handed over. You're home.
Want the full breakdown? Grab our First Home Buyers Guide - 10 practical steps in detail.
What's the difference between refixing, restructuring, and refinancing?
Think of it like this...
Refixing is when you stay with your current bank. Just locking in a new interest rate. Like renewing your vows.
Restructuring? Can still be with your current bank. But you're changing how the loan works. Maybe switching from fixed to floating or a mixture of both with an offset account. Rearranging the furniture.
Refinancing is the big move. You're taking your entire mortgage to a new lender.
Why would I refinance instead of just staying with my current bank?
The obvious one? A better interest rate (Even a small drop adds up).
But there's more...
Cash-back bonuses. Some banks offer .5% to 1.5% of your loan amount. On a $500k mortgage, that's up to $7,500 in your pocket.
Maybe you want to consolidate high-interest debt. Roll those credit cards into your mortgage at a lower rate.
Or... you're dreaming of a new kitchen. One that doesn't look like it's from the 70s and want to access some equity.
Refinancing isn't just about rates. It's about making your mortgage work best for you... right now.
What does refinancing actually cost?
A few things to factor in.
Legal fees. Break fees if you're leaving a fixed-rate early. Maybe a valuation fee. Sometimes application fees.
Here's the thing though...
Many banks offer cash-back bonuses that can cover most (or all) of these costs. So you might not be as out-of-pocket as you think.
How does it work?
Refinancing is very similar to getting a mortgage to buy a home.
Talk to your mortgage adviser, they'll help identify your current goals and let you know what kind of rates, strategies and loan types are available for your situation.
You'll provide documents and your mortgage adviser will help you apply for your desired loan.
What is LVR and how does it affect my borrowing power for an investment property?
LVR stands for Loan-to-Value Ratio. It's the percentage of the property's value that you are borrowing from the bank.
In New Zealand, the Reserve Bank (RBNZ) sets restrictions on how much banks can lend based on LVR. For investment properties, you generally need a larger deposit than for a home you plan to live in. Typically, investors need a 30% deposit, meaning the bank will only lend up to a 70% LVR (A lower LVR means less risk for the bank and can improve your borrowing power).
While some exceptions exist, planning for a 30% deposit is a solid starting point.
How can I use the equity in my current home to buy an investment property?
Equity is the difference between your property's current market value and the amount you still owe on your mortgage. For example, if your home is worth $1,000,000 and your mortgage is $400,000, you have $600,000 in equity.
You can often borrow against this equity to fund the deposit for an investment property. Lenders will typically require you to leave at least 20% equity in your own home. In the example above, you would need to keep $200,000 (20% of $1M) in your home, which leaves you with $400,000 of usable equity to put towards your investment purchase.
Use our free equity calculator to find out how much equity you may have in your property.
What's more important: rental yield or capital growth?
This depends entirely on your personal financial strategy.
Rental Yield is the annual rental income you receive as a percentage of the property's value. A high rental yield provides strong cash flow, which can help cover mortgage repayments and other expenses. This is often a focus for investors seeking passive income.
Capital Growth is the increase in the property's value over time. This is a long-term strategy focused on building wealth through asset appreciation.
Ideally, a great investment property offers a balance of both. We can help you clarify your goals and identify properties that align with your strategy.
Do I need a special type of loan for an investment property?
Yes, investment loans have stricter criteria than owner-occupied loans, including lower LVR limits (meaning a larger deposit is needed). We specialise in navigating these differences to find the right loan product for your investment goals.
Should I put my investment loans on interest-only?
An interest-only loan can improve your cash flow by lowering repayments, freeing up funds for other investments. However, you won't be paying down the principal loan amount. We can help you decide if this strategy aligns with your long-term financial plan.
What are the tax implications?
Rental income is taxable, but you can claim expenses like mortgage interest (subject to current rules), insurance, and maintenance. Tax laws for property are complex and change often, so we always recommend consulting with a property accountant.
Should I buy in my own name, or use a trust or company?
This depends on your goals for asset protection and your tax situation. Buying in your own name is simpler, while a trust or company can offer better protection. It's a crucial decision to discuss with your accountant and solicitor.
What ongoing costs should I budget for?
Beyond the mortgage, remember to budget for council rates, insurance, property management fees, and a buffer for maintenance and potential vacancy periods. A well-planned budget is key to a successful, stress-free investment.
What is development finance and how does it differ from a standard mortgage?
Development finance is a specialist short-term loan used to fund construction projects. Unlike a standard mortgage, funds are typically released in stages (progress payments) as the project hits key milestones. The loan is usually repaid once the project is completed, either by selling the properties or refinancing to a long-term investment loan.
How much deposit or equity do I need for a development project?
This is often expressed as a percentage of the Total Development Cost (TDC). Most lenders require developers to contribute 20-30% of the total project cost as equity. This can be in the form of cash, or equity in the development site itself.
Do I need to have pre-sales before I can get funding?
It depends on the lender. Main banks often require a significant portion of the development to be pre-sold (e.g., 100% of the debt covered). However, many non-bank lenders are more flexible and can provide funding with few or even zero pre-sales, which gives you more flexibility.
What is a Quantity Surveyor (QS) and will I need one?
A Quantity Surveyor (QS) is an independent professional who assesses and monitors the costs and progress of your construction project. Most lenders require a QS to provide an initial report on your budget and then certify each progress payment, ensuring the funds are being used appropriately. We can help you engage a trusted QS.
What does “capitalised interest” mean?
Capitalised interest is a common feature of development loans. Instead of you paying the interest monthly from your own pocket, the interest is calculated and added to the loan balance. This improves your cash flow during construction and is repaid as part of the total loan at the end of the project.
Can I fund the ‘soft costs’ like consents and design fees?
Yes, development finance can often cover both ‘soft costs’ (like architectural fees, council consent fees, and valuations) and ‘hard costs’ (the physical construction). Funding for soft costs is typically part of the first drawdown.
What is an ‘exit strategy’ and why is it important?
Your exit strategy is your plan for repaying the development loan once the project is complete. The two main exits are selling the completed properties or refinancing the debt into long-term investment loans to hold them as rentals. A clear and credible exit strategy is critical for getting your finance approved.
How are funds paid out during the project?
Funds are paid out in stages, known as ‘progress payments’ or ‘drawdowns’. As your builder completes a stage of work, they will issue an invoice. This is sent to the lender (often via the QS) who verifies the work and then releases the funds to pay the invoice. This protects all parties by ensuring the loan is only drawn down as value is added to the site.
What actually is equity?
Simply put, equity is the difference between what your home is worth today and what you still owe on your mortgage. For example, if your home is valued at $800,000 and you owe $400,000, you have $400,000 in "Total Equity."
How do i access my equity?
You can access your equity by "topping up" your existing home loan. Instead of saving cash for years, you borrow against the value you've already built up in your house. The bank gives you the funds (for a renovation, deposit, etc.), and your mortgage balance increases by that amount.
What is "Usable Equity" vs. "Total Equity"?
While you might own $400,000 of your home, the bank usually won't lend you the full amount. They need a safety buffer.
• Total Equity: The full value you own.
• Usable Equity: The amount the bank will actually let you borrow.
In NZ, this is typically up to 80% of your home's value (for the house you live in). Our calculator works this out for you automatically!
Does accessing equity increase my repayments?
Yes, because you are increasing your loan size. However, home loan interest rates are typically much lower than personal loans, car loans, or credit cards. This makes using equity one of the cheapest ways to borrow money for big projects.
Can I use equity for anything?
Almost! Common uses include renovations, buying an investment property, buying a new car, or even a holiday. As long as you can afford the new repayments, banks are generally happy to approve these "top-ups."
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Book your free call
If you need help doing some numbers and increasing your loan chances, book in a call with us and let’s give you the best chance possible of reaching that desired settlement day.
Resources to get you started
Rate comparison tool (Live)
See what NZ lenders are actually offering right now. Compare rates and terms in one place. Updated hourly so you're always looking at current numbers.
Mortgage repayment calculator
Find out what your mortgage repayments could be. Play with loan amounts, rates and terms to see what fits your budget
First home buyers guide
Buying your first home doesn't have to feel overwhelming. This free guide walks you through all 10 steps - so you know exactly what happens next, and what to prepare for.
New Home Loan Quiz
Wondering if you'd actually get approved? This 40-second quiz gives you a realistic answer - so you know whether to start looking, or what to fix first.
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Live Rates Comparison Tool
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Live Rates Comparison Tool
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