Investment property
Your bank assesses the whole portfolio. You have only ever seen one loan at a time.
Every loan, every rate, every date, in one place, ordered by which one moves next. Then a read on what the portfolio looks like from the other side of the desk.
- ✓Multiple loans, multiple dates
- ✓No cost, no obligation
- ✓No login
The size of it
A quarter of every fixed mortgage dollar in the country is investor lending.
It gets treated as a niche by every tool in this market. It is not one, and nothing published anywhere in New Zealand handles more than a single loan.
Reserve Bank of New Zealand, series S33, July 2026.
The dates
Four loans. Four dates. Could you name any of them?
One property is straightforward. Three properties with five loans, because two of them are split, is five separate repricing events on five separate dates that do not line up and were each set by a different decision in a different year.
Nobody holds that in their head. The spreadsheet that used to hold it stopped being current about a year ago.
Sixty percent of New Zealand's fixed mortgage debt reprices inside twelve months (RBNZ series S33, July 2026), and a portfolio hits that more often than anyone else does — which is also the only reason the sequence is worth managing rather than reacting to.
Serviceability
One property can block all of them.
Lenders test serviceability across the whole portfolio, not property by property. One weak asset sits in the file for every other application you make.
Servicing isn't the issue .. it's the bank lending side.
A borrower with three properties, strong equity in two and negative equity in a third after Cyclone Gabrielle — r/PersonalFinanceNZ
Rental income is shaded before it counts
Lenders apply a discount to gross rent when they assess servicing, and the percentage varies by lender. It is the single biggest difference between what you think the portfolio earns and what the file says it earns.
Investor LVR and DTI are treated tighter
The Reserve Bank operates both LVR restrictions and DTI restrictions, with separate settings for investors. Those settings, not your view of the property, decide how much of the portfolio is available to you.
Cross-collateralisation ties properties together
If two or more properties secure the same lending, a decision about one is a decision about all of them. Most people do not know whether theirs are, because nobody ever told them and it is not obvious from a statement.
Tax
Tax settings for residential investors have moved more than once.
Interest deductibility rules for residential investment property have changed in recent years. We publish what Inland Revenue currently says and link straight to it.
Tax sits outside the financial advice regime, and it also sits outside what this site is for. We restate IRD's facts and link IRD. Working out your own position is an accountant's job, and if that is what you need, that is who to ring.
Source: Inland Revenue —ird.govt.nz/property.
The refix, plural
The rate rise does not hit once. It hits per loan.
The OCR has risen twice since July and is priced to rise again in December (RBNZ). Across a portfolio, the arithmetic below repeats per loan, on dates you did not choose.
Half a percentage point
$2,500
a year, on a $500,000 loan. That is the whole calculation: 0.5% of the balance. On a portfolio it is not one event, it is one per loan, in whatever order the dates fall.
Illustrative simple interest on the balance over twelve months, not an amortisation schedule, not a quote and not advice.
What you get back
Each loan at the rate it is on. Each one at today's published rates. Each one under a pass-through scenario you set yourself. And the order they come at you in.
Every one of those figures is arithmetic on numbers you entered, or a count of published rates. None of it says which loan to act on, which term to choose or which lender to approach — that is a licensed adviser's call, not a calculator's.
Where an adviser earns it
Refixing one loan is easy. Five loans against a portfolio-wide test is not.
The criticism of advisers at refix is fair for a single PAYE mortgage: you can see the rates in your app and click one. It stops being fair the moment the answer depends on how a lender reads a portfolio.
- Which lenders will look at your file at all.
- How each of them shades rent.
- Whether your properties are cross-collateralised, and what that is costing you in flexibility.
- Whether the sequence of dates can be moved so the whole portfolio is not repricing into the same quarter.
- What a break fee would be on the one that is out of step.
None of that is on a comparison table, and none of it is in your banking app. One licensed adviser, briefed with the portfolio before they ring.
Related: what happens when a fixed rate ends →and what a cashback costs you to leave →
Questions
The things investors actually ask.
I have more than one mortgage. Does this handle that?
Yes — bring every loan, every rate and every date. Investor lending is $93.1 billion of New Zealand’s fixed mortgage book, 25.7% of the whole thing (RBNZ series S33, July 2026), and nothing else in this category handles a second loan. The adviser is briefed with all of them before they ring you, so you are not explaining the portfolio twice.
Why will the tools not just tell me what to do?
Because that is the line. Telling you to fix for two years, or to move a loan to a particular lender, or to leave one where it is, is all regulated financial advice in New Zealand and all of it needs a Financial Advice Provider licence we do not hold. So the site shows you the numbers, the dates and the costs, and a licensed person makes any recommendation. The upside of that constraint is worth saying out loud: nobody here is incentivised to reach a particular conclusion, because we are not allowed to have one.
How accurate are your numbers?
The rates are read from each lender’s own published material and stamped with the time they were read. Everything else is arithmetic on figures you enter, with the method stated next to the result. What we cannot know: the rate a lender will actually write for you, your exact break fee, how a particular lender will shade your rental income, and anything about your circumstances you have not told us. Where we cannot know something the page says so rather than estimating around it.
What is a break fee, and will I have one?
If you exit a fixed rate early, your lender may charge an early repayment adjustment. It is calculated from wholesale rates rather than advertised rates, it differs by lender, and the figure moves day to day. Your lender funded the fixed loan at the wholesale rate of the day, so the charge is largest when rates have fallen since you fixed and is often very small or nil when they have risen. Only your lender can tell you your actual number, and they will give it to you if you ask.
What does this cost me?
Nothing. Mortgage advisers in New Zealand are generally paid a commission by the lender when a loan settles, not by you. If a fee ever applied to your situation, the adviser has to tell you before doing any work. We are paid a share of the adviser’s commission if a loan settles, and by nobody else.
Is this financial advice?
No. This site publishes factual information about lenders’ published rates and offers, and does arithmetic on numbers you enter. We are not a financial advice provider. Any advice comes from a licensed adviser, who will give you their disclosure information before advising you.
Start with the loan that moves next.
Two minutes on that one, then bring the rest. No cost, no obligation, and no login.
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