Switch your home loan to Kiwibank

Our Refinancing Package

Eligibility criteria

When you choose to use our Refinancing Package, you’ll be using Kiwibank’s legal transfer service instead of using your own solicitor.

To qualify for the Refinancing Package free of charge, you’ll need to meet certain criteria:

• Your home loan needs to be at least $50,000;
• You have 20% equity in the property being used as security;
• Your home loan is secured by a maximum of two securities;
• If you're using an apartment, townhouse or leasehold property as your security, you may need to obtain (and pay for) a registered valuation;
• There aren’t any guarantors on your home loan;
• The ownership of the properties isn’t changing;
• The documentation must be signed by the property’s owner (not a power of attorney);
• The refinance can’t form part of a series of same day transactions.

Note: Your existing lender may charge break costs or discharge fees, and these aren’t covered as part of the Refinancing Package.

If you don't meet the criteria

If you don’t meet the above criteria, you may still be able to use our Refinancing Package to switch to Kiwibank, but you’ll need to pay a Refinancing Package fee. This fee reflects the legal and other services carried out by our agents.

The Refinancing Package fee is calculated as follows:

• $250 per home loan agreement; and
• $150 per additional security after the first two.

The Refinancing Package is not available if:

• There are any guarantors on your home loan;
• The ownership of the properties is changing;
• The documentation is not signed by the property’s owner;
• The refinance forms part of a series of same day transactions;
• The security being offered is owned by a trust;
• The security being offered is unencumbered;
• The refinance is for Business Banking Purposes.

If our Refinancing Package is not used when refinancing to Kiwibank, you’ll need to use your own solicitor. Your solicitor’s fees will not be covered by us.