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Get Friendly Expert Mortgage and Insurance Advice

Whether you’re looking to buy your first home, already have a mortgage, or are looking to invest, we’re here to help you through the sometimes quite daunting process of getting a new mortgage and protecting you with Life and Health insurance.

We make sure everything is set up correctly, help satisfy the bank’s conditions, and work tirelessly to get you the best mortgage rates and conditions… nothing goes in the too hard basket, that’s a promise!

And the best part? All this at usually at no cost to you!

That’s right, we don’t charge you for our services, so get in touch and find out how we can save you time, hassle, disappointment and money, while making your house purchase a smooth and seamless process.

The 5 Steps To Getting A Mortgage

We’ll meet and discuss your needs

We’ll go and get approval from the best bank for you

Pre-approval!

We’ll negotiate interest rates and meet to talk about how you’d like to structure your mortgage

You’ve got yourself a house!

Let us take the stress out of your next property purchase

You’re so close, you’ve been scouting the property market for months, you’ve been to countless open homes and talked to seemingly every agent in town and now you’re ready, you’ve found it… the one! Your dream home or investment opportunity!

Unfortunately, now comes the hard bit… getting it over the line. You need to tick many boxes and finance approval is one of the big ones.

Our mortgage brokers make sure you get the best deal, minus the hassle. Our insurance brokers then make sure it’s fully protected.

We will walk you through the process of buying your first (or next) property, making sure to provide you with crucial information every step of the way, pulling out all the stops to get you over the line in time so that you don’t miss out on your dream home or investment opportunity.

Important Information about The Mortgage Lab

If you would like this important information as an A4 PDF, click here.

Our services include:

  • Loans including mortgages, reverse mortgages and personal consolidation loans
  • KiwiSaver

Please refer to each adviser’s profile page for their particular service.

 

Almost all Mortgage Lab services are at no direct cost to you as our brokers get paid a commission by the banks and other lenders when a mortgage is finalised or refixed.

The exceptions to this:

  • If a mortgage is paid off or discharged within 27 months, a fee may be incurred.  See our FAQ: What if I sell my home or refinance my mortgage shortly after using a mortgage broker?
  • Finance companies may require a fee to be added to the loan rather than paying us a commission. You’ll always be made aware of these fees long before they are locked in.
  • If, following the service provided by the adviser, you elect not to continue engaging Mortgage Lab to settle the mortgage or finalise the insurance product, the adviser may charge you an hourly rate of $250 for the work provided.  The maximum charge we will typically invoice for is $2,500.

The commissions paid are below.  These commissions are accurate at the time of writing – 21st June 2022

LenderUpfrontTrailRefix
ANZ0.85%N/a$150
BNZ0.55%0.15%N/a
ASB0.85%N/a$150
KiwiBank0.55%0.15%N/a
Westpac0.60%0.20%N /a
Sovereign Home Loans0.60%0.20%N/a
TSB0.85%N/aN/a
ASAP Finance LimitedFee ChargedN/aN/a
Avanti FinanceUp to 0.80%N/aN/a
CressidaFee ChargedN/aN/a
DBRFee ChargedN/aN/a
First Mortgage TrustFee ChargedN/aN/a
Heartland Bank (Reverse Mortgage)1.50%N/aN/a
Liberty Financial0.60%0.15%N/a
NZCU (Personal Loans)1.00%N/aN/a
RESIMAC0.60%0.15%N/a
SBS Bank0.80%N/a$150
Southern CrossFee ChargedN/aN/a
The Co-operative Bank0.70%N/A$150

Our list of 27 approved providers is as follows

Main Bank Lenders

  • ANZ Bank of New Zealand Limited
  • ASB Bank Limited
  • Bank of China Limited
  • Bank of New Zealand
  • KiwiBank
  • The Co-Operative Bank Limited
  • SBS Limited
  • Sovereign Home Loans (AIA Sovereign)
  • Westpac Banking Corporation
  • TSB

Non Bank Lenders

  • Pepper New Zealand
  • Resimac Financial Services
  • Liberty Financial
  • ASAP Finance
  • Avanti Finance
  • Basecorp Finance
  • Cressida Capital One
  • DBR
  • First Mortgage Trust
  • General Finance
  • Metro Finance
  • Pioneer Finance
  • Silver Harbour Capital
  • Southern Cross Partners
  • Xceda
  • Heartland Bank Limited (Reverse Mortgages)
  • NZCU Trustee (Personal Loans)

Please refer to each individual adviser for the full list of lenders that adviser can work with.

We may also receive a referral fee from some partners.  These include:

  • XE.com
  • Reapify Car Loans
  • Prospa Business Loans
  • Rothbury
  • Maurice Trapp Group

Mortgage advisers (often called mortgage brokers) are paid by the bank when a mortgage is drawn down.  If that mortgage is discharged (repaid and closed) within a short amount of time – typically 27 months – the broker must repay some or all of the commission (often referred to as a clawback).  In this instance, the mortgage broker has essentially done the work for no pay.

We reserve the right to charge for our time if a clawback is incurred.  The fee will be the estimated amount of hours the mortgage took at an hourly rate of $250 per hour.  Unlike other fees, such as Break Fees from the bank, we have capped the amount we can charge clients at $2,500.

If you are refinancing or selling your house, the best thing to do is immediately talk to your adviser and discuss if any clawback fees will be charged.

Our Advisers can work with the following KiwiSaver providers:

  • Generate
  • NZ Funds
  • Booster
  • ANZ OneAnswer
  • Koura

Please check the individual adviser profile pages to see who that particular adviser works with.

From time to time we may receive additional referral payments from our business partners.  Some advisers may receive payments for referring Life and Health insurance, KiwiSaver, currency exchange, Real Estate Agents or Fire and General insurance.  Mortgage Lab and the advisers do a significant amount of due diligence to make sure that all referrals are to companies of the highest quality and compliance standards.  The decision to refer to a partnering business is based on quality service first and the payment received second.

From time to time a product provider may give us a gift, hamper or ticket to an event.  The decision to refer to a product provider is based primarily on the best product for the client, not because of any gift received.  We follow a six-step advice process to assess which product is best for you.

We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:

  • Meet the standards of competence, knowledge and skill set out in the Code of Conduct 
  • Give priority to the clients’ interest and
  • Exercise care, diligence and skill and
  • Meet the standards of ethical behavior, conduct, and client care set out in the Code of Conduct.

Mortgage Lab holds a Full license as a Financial Advice Provider.  All Advisers are Financial Advisers (FAs) belonging to Mortgage Lab’s license.

Mortgage Lab’s Financial Service Provider number is: FSP587228

Our office contact details are:

Address: Level 2, 14 Jervois Road, Ponsonby, Auckland 1011
Phone: 09 886 9779
Email: info@mortgagelab.co.nz
Website: www.mortgagelab.co.nz

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  • Can I buy an investment property?

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  • On 23 March the government announced policy changes to the rules governing the property market. The intention behind these new rules is to reduce access to finance for property investors…

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  • 3 Things Investment Property Buyers Can Do To Get Ready

    在买人生中的第一套房子过程中可能会令人困惑,准备好买房的关键是要有条理。以下三件事是您可以提前做,以准备申请房屋贷款。

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  • OCR Announcement - 16th March 2020

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  • 2022 Predictions Interest Rates / House Prices

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  • City focus - Tauranga

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  • Meth and investment properties - it's worse than you think

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  • The Worst Financial Decision You Can Make

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  • If you’ve ever watched one of the Mortgage Lab’s webinars or Facebook livestreams, you will most likely have heard us rave about this app.  It’s one of our favourites –…

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  • Getting a flatmate to help pay the mortgage is a big decision. You have to share your home, and you wanted to keep a spare room for guests. But look…

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  • It happens to almost everyone eventually. You walk into the bank, and ask for an amount of money, either to buy a car, house, or business and the bank declines you. Today…

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  • It happens to almost everyone eventually. You walk into the bank, ask for an amount of money, either to buy a car, house or business and the bank declines you. We look…

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  • 6 Tips for bidding at auction

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  • It’s the time of the year when the Mortgage Lab buffs up our Crystal Ball, gazes into the infinitely complicated world of economics, and comes up with sufficiently generic interest…

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  • Divorce and Mortgages

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  • Can I buy an investment property?

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  • Retirees often find themselves in a difficult financial position.  Short on income but lots of equity, usually stored in their homes.  A typical mortgage top-up won’t work in this scenario. …

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  • Just a couple of years ago, the use of the words “cost fluctuation” in the residential building industry was about as common as the use of the word “liquefaction” prior…

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  • 3 things to do now to prepare for a recession

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  • 10 Things Homeowners Should Do Annually, But Don't

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  • The Official Cash Rate (OCR) explained

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  • When you’re buying a house, there are a lot of things to think about. One of the steps that is often a mystery for homebuyers is what happens with their…

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  • Typically, when you use a mortgage calculator, you want to know what your mortgage payments will be (obviously). A couple borrowing, say, $800,000 for an investment property might want to know…

    Read More

  • The Credit Contracts and Consumer Finance Act (CCCFA) came into force on the 1st December 2021 and was largely meant to protect consumers from high-interest loan sharks. Unintended effects of…

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  • If you’re interested in property investment in New Zealand, you’re likely no stranger to the increased lending restrictions put in place this year. These restrictions were intended to discourage small…

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  • There are many valid reasons why you might be looking to pull some equity out of your property to use elsewhere. This is commonly called a ‘top-up’ on your mortgage. …

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  • This article is current as of 1 September 2021 It’s Covid-19 lockdown déjà vu for New Zealand. While most of the country is now at level 3 Auckland will remain…

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  • Interest Only Mortgages

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  • Surrounding yourself with property experts is not just a good idea; it’s absolutely necessary. And while it sounds expensive, you don’t need to be rolling in cash. In fact, in…

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  • When you think about mortgage broking (okay, you probably don’t think about mortgage broking but stay with us) you probably think about it in the context of buying a house.…

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  • Better Budget - All about your heat pump

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  • Can I buy an investment property?

    99%的新西兰人的梦想和目标是拥有房产。一旦实现了,人们通常就开始转向购买其第一笔投资物业。

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  • Debt can be a bit of a scary word, but don’t worry, this is a safe space! This article covers what it is, how it affects your mortgage application and…

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  • Updated 16th February 2021 It might feel like decades ago, but on 30th April 2020, the Reserve Bank announced the removal of LVR restrictions on banks in New Zealand.  In…

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  • Apartments are a very tempting purchase, especially for first-home buyers. They tend to cost less and therefore be much more within reach. And you can pretend you’re living in Manhattan,…

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  • moving cities

    With more employers than ever allowing staff to work remotely, you may be thinking of buying outside the city limits. Without the long commute to work limiting your thinking, suddenly…

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  • The question of whether to renovate or pay down your mortgage is not an easy one to answer. It depends on your situation, the state of the property, and what…

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  • The thinking behind weekly payments saving you money is this; If you pay $2,000 in monthly payments there are 30/31 days of interest charged before your next payment reduces your…

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  • Below is a list of standard mortgage terms to help buyers and investors understand the finance journey.  This list is taken from “The Successful First Home Buyer” book. Asking price…

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  • An offset mortgage is when you have one or multiple bank accounts allocated to your mortgage The money in these accounts lower the amount owed. Instead of earning interest on…

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  • 对冲账户(Offset Account)是与房屋贷款账户相关联的日常交易账户。顾名思义,它的功能就是对冲您房屋贷款帐户中的本金,因而降低您所需要支付本金所产生的利息。

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  • Preparing For Your Mortgage - Documentation

    This article is current as at September 2021 Being prepared isn’t just for Scouts. When applying for a mortgage you can significantly reduce wait time by providing all required documentation…

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  • Revolving Credit, Floating Account, Mortgage

    Most homeowners are familiar with fixed-term mortgages.  Over 80% of NZ mortgages are on some sort of fixed-term; the majority are currently for 1 to 2 years.  But it’s easy…

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  • When to get your Accounts done

    If you happen to be a salary earner, proving your income is relatively easy. As long as your employer issues decent quality payslips, you can provide the 3 most recent slips…

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  • Bank Relief Packages and Mortgage Holidays

    Article current as of 1st April 2020 (no April Fools jokes are contained – all information accurate) With the recent announcements with bank relief packages and mortgage holidays, we are…

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  • OCR Announcement - 16th March 2020

    The Reserve Bank today announced that the OCR would be reduced by 0.75% to a new level of 0.25%. International markets around the world have been severely affected by the…

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  • How does a Credit Card affect your mortgage?, bad debt

    Kiwis like Credit Cards… a lot.  If you’ve got 10 minutes, you could get one online right now (don’t).  And the price for easily-acquired, unsecured debt is usually ~20% p.a.…

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  • 2022 Predictions Interest Rates / House Prices

    It’s the time of the year when the Mortgage Lab buffs up our Crystal Ball, gazes into the infinitely complicated world of economics and comes up with sufficiently generic interest…

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  • If you quit smoking, how fast could you pay down your mortgage

    Smoking is a difficult habit to quit but there are some powerful motivators to do so. For some, it’s the wish to live a healthier, longer life. For others, it’s…

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  • City focus - Tauranga

    This month our Mortgage Advisers take a good look at the property sector in the beautiful city of Tauranga. Tauranga Property Prices It would be fair to say that property…

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  • Your mortgage rate is 8%

    Repeat after me.“The interest rate I pay on my mortgage is 8%…”“The interest rate I pay on my mortgage is 8%…” No it’s not You’re right, it probably isn’t.  If…

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  • Calculating The Interest On Your Progress-Payment Construction

    Calculating the amount of interest expected in a progress-payment contract on a newly built house can sometimes seem daunting.  In this article, we walk you through some easy calculations. Recently…

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  • Just a couple of years ago, the use of the words “cost fluctuation” in the residential building industry was about as common as the use of the word “liquefaction” prior…

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  • If you’re interested in property investment in New Zealand, you’re likely no stranger to the increased lending restrictions put in place this year. These restrictions were intended to discourage small…

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  • new build or existing home

    There’s a lot to weigh up between a new build or an existing house. Some of it is a personal preference; the beauty of a stained glass window in a…

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  • Turn Key, Progress Payments, Contract, Construction, Building, New Home

    For some time now the Reserve Bank has tried to encourage mortgage lending on newly constructed properties. In other words, getting finance is slightly easier if you are purchasing a…

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  • Below is a list of standard mortgage terms to help buyers and investors understand the finance journey.  This list is taken from “The Successful First Home Buyer” book. Asking price…

    Read More

  • City focus - Tauranga

    This month our Mortgage Advisers take a good look at the property sector in the beautiful city of Tauranga. Tauranga Property Prices It would be fair to say that property…

    Read More