We're decreasing our rates for new and existing customers on the following home loan products:

• Monday 14 October 2024 for new customers
• Tuesday 29 October 2024 for existing customers.

Effective from 29 November 2023

Summary of changes

We’re introducing an additional outward international payment fee option called OUR², in addition to our current payment fee option SHA¹. And, we’re also reducing the payment fee option for SHA¹ from $20 to $10. As a result we’re updating our Fees and Limits to include the following:

• NZD20 equivalent when done by internet banking with charges OUR²
• NZD35 equivalent when done person to person at your nearest Kiwibank branch or by email with charges OUR²
• NZD10 equivalent when done by internet banking with charges SHA¹.

¹ SHA fees are shared between the sender and beneficiary of the payment. Overseas bank fees will be deducted from the payment. This will mean the beneficiary receives less than you have sent.

² OUR fees are paid by the sender of the payment. You will pay an additional fee, which will be added to your payment fee to cover overseas bank fees. By choosing this option, the full amount you send should reach the beneficiary; however, this is not within Kiwibank’s control and there may be additional fees charged to the beneficiary.

Download a copy of the updated NZHL Fees and Limits, effective from 29 November 2023.

Changes to international direct credit payments

From 29 November 2023, we’ll no longer offer international direct credit payments in Canadian Dollars. If you're wanting to make a payment to Canada in Canadian Dollars (CAD), this can still be completed as an international money transfer as this remains unchanged.

Date published: 14 November 2023

Effective from 22 June 2023

We’re making changes to the NZHL-arranged application fee. For details on this change, see the table below.

Home loan fee changes

Effective from 26 May 2023

Changes to payment processing days

We’ll be processing electronic payments to and from participating New Zealand banks seven days a week (365 days a year). Currently electronic payments between New Zealand banks are processed on business days only.

From 26 May, payments will be processed on their actual due date rather than the next business day. If someone is transferring money to you, you’ll receive the funds the same day. This change will apply to automatic payments, bill payments, direct credits and direct debits.

We'll process home loan repayments every day of the year.

There are no changes to:

• processing times for payments - these will continue to be processed between 9am and midnight and will move to seven days a week
• debit card transactions, as these are already processed every day.

As a result of this change, we’re updating the following terms and conditions brochures effective from 26 May 2023.

• NZHL Home Loan Terms and Conditions
• NZHL General Terms and Conditions

For more information visit Payments NZ website.

Changes to the way we can communicate with you

We’re updating the NZHL General Terms and Conditions to clarify the ways we can give notice under our terms, and how we may provide you with account statements. We’ve also included that sometimes we can get things wrong, and when this happens we’re determined to make them right as soon as we can.

Download a copy of the NZHL General Terms and Conditions effective 26 May 2023.

Date published: 8 March 2023

Effective from 1 December 2022

We’ll no longer be charging a dishonour fee. As a result we've made changes to the NZHL Fees & Limits and NZHL General Terms and Conditions brochures.

NZHL Fees & Limits brochure

• Free ATM balance enquiries on Kiwibank ATMs has been removed from the list of items on page 1 as Kiwibank customers are no longer charged this fee.
• The dishonour fee has been removed from page 2 as we’re no longer charging this fee.

Effective from 18 July 2022

We’re making changes to our home loan restructure fee. For details on this change, see the table below.

Home loan fee being changed

Effective from 29 April 2022

• We’ve updated the section number reference in the ‘Who do these terms apply to?’ section.
• Section 27 ‘What if you want to deposit a foreign currency cheque?’ has been removed from page 24 as we're no longer offering this product.
• We’ve updated the section number references in sections 1, 38, 45, 49 within the General Terms & Conditions brochure.

Download a copy of the updated General Terms & Conditions.

Date published: 4 April 2022

Effective from 11 February 2022

We're making a change to one of our home loan fees. The change is outlined below:

Download a copy of the updated NZHL Fees and Limits Brochure, which includes this fee change. Effective from 11 February 2022.

Date published 28 January 2022

Effective 30 September 2021

From 30 September 2021 New Zealand Home Lending Limited is amalgamating with Kiwibank Limited and from then on, we’ll continue as one company (Kiwibank Limited).

When the amalgamation happens:

• Kiwibank Limited will be the creditor of your home loan.
• Whenever you see a reference to ‘New Zealand Home Lending Limited’ in your home loan documents, you should read this as ‘Kiwibank Limited’.
• If you have an existing relationship with Kiwibank (such as a bank account), any separate Kiwibank terms that apply to that relationship will continue to apply.
• Your mortgage will be used to secure your home loan and any other obligations you have to Kiwibank.
• You will see no change to your accounts, and can continue to access internet banking, the mobile app and use your NZHL ATM/EFTPOS card.

Even though New Zealand Home Lending and Kiwibank are merging, this doesn’t impact on NZHL, or your existing relationship with your NZHL adviser, who will continue to provide advice in relation to your home loan and manage the relationship with Kiwibank.

Date published: 21 September 2021

Effective 1 June 2021

We’re updating the NZHL Home Loan Terms and Conditions. The change is effective from 1 June 2021.

Summary of change

We’re replacing Section 2 – “When can your home loan documents change?” with the following wording:

“Your home loan agreement and these terms give us the right to make specific changes to your home loan agreement.

In addition, we can change your home loan agreement, these terms and our fees and limits brochure at any time, but we must give at least 14 days' notice before you are bound by the change.

Our general terms explain how those terms and conditions can be changed.“

The words in italics have a specific meaning. You can find out the meaning of these words in the NZHL Home Loan Terms and Conditions.

The change makes it easier for us to roll out new and improved documents. While the change gives us a broader right to make changes, we’ll continue to treat you fairly and not use this right in an unreasonable manner.

Download a copy of the updated NZHL Home Loan Terms and Conditions effective from 1 June 2021.

Date published: 17 May 2021