Mortgage Refix Savings Calculator

This calculator shows how much interest you save by refixing your New Zealand mortgage at a lower rate, both in the first year and across the whole new fixed term. Refixing is the decision almost every Kiwi mortgage holder faces every year or two: when a fixed term ends, you pick a new rate for the next term, and the rate you land on has a big effect on what the loan costs you. When rates fall, refixing at the lower rate puts real money back in your pocket, and this tool makes that saving concrete. You enter your remaining loan balance, your current fixed rate, the new rate you can refix at, and the length of the new fixed term, and the calculator works out the interest you would pay at each rate and the difference. The headline is the saving per year, with the total saving over the fixed term shown alongside, so you can see what shopping around or negotiating a sharper rate is actually worth. The saving is based on interest on the balance, and in practice it eases slightly as the loan reduces over the term. Note this assumes you are refixing at the end of a term, not breaking early, which would usually trigger a break fee. Estimate only, not financial advice.

Based on interest on the balance; the saving eases slightly as the loan reduces. Assumes refixing at term end, not breaking early. Estimate only, not advice.