Mortgage Refix Strategy Calculator

It depends on where rates are heading. Currently (mid-2026), the yield curve is slightly inverted — 1-year fixed is the cheapest, longer terms are more expensive. If you believe rates will keep falling, fix short. If you believe they'll rise, fix longer. The 2-year fixed is the most popular NZ choice because it balances flexibility and certainty. Source: RBNZ + interest.co.nz.

Yes — most NZ banks let you split a mortgage into multiple tranches (e.g. $300k on 1-year, $200k on 3-year, $100k floating). This staircase strategy reduces refix risk because not all of your mortgage rolls over at once. Get advice — splits cost more in admin and require more decisions. Source: Sorted NZ.

Refix is the process of choosing a new interest rate when your existing fixed term ends. NZ banks typically allow you to lock in the new rate up to 60 days before the existing term expires — useful if rates are rising. You can keep the same loan, just change the rate. Most banks (ANZ, ASB, BNZ, Kiwibank, Westpac) let you refix online or via the app — it doesn't require a full reapplication. If you do nothing, the bank automatically rolls you onto the floating rate (currently ~7.85%), which is significantly more expensive than a fixed term. Set a calendar reminder 8 weeks before each refix date. Source: RBNZ + bank product disclosures.

Yes, but break fees apply on fixed-rate loans. The fee is calculated as: (your fixed rate − bank's current wholesale rate for the remaining term) × loan balance × time remaining. If wholesale rates have risen since you fixed, the break fee is usually $0. If they've fallen, the fee can be thousands to tens of thousands. Banks must use the RBNZ's prescribed formula — get a written estimate before deciding. Rule of thumb: only break if the rate difference × remaining term × balance exceeds the break fee by 30%+. Calc.nz has a dedicated mortgage break fee calculator. Source: RBNZ + Sorted NZ.