A Moneybren tool
NZ MORTGAGE BREAK FEE CALCULATOR
Rates have fallen since you fixed — is it worth paying the break fee to get out? This estimates the fee, the savings, and the honest answer for New Zealand borrowers.
Your numbers
$
% pa
% pa
The rate you’d refix or refinance at today.
mo
yrs
$
New banks often offer cash to switch.
$
Legal/discharge fees, typically $800–$1,500.
Breaking your fix looks
—
The ledger
Read this before calling the bank. Only your bank can tell you the real break fee — they calculate it on wholesale rates with present-value discounting, and by law can only recover their actual funding loss, not lost profit. That means this estimate (retail rate difference × balance × time) usually runs high — the real quote is often smaller. Quotes are typically valid for around 10 days and move with the market. Not modelled: cashback clawbacks from your current bank if you leave within their clawback window — ask. If rates keep falling after you refix, the same maths applies again.
How to use this calculator
Enter your loan, your current fixed rate, the months remaining, and today’s best rate. The calculator estimates the break fee, works out the repayment savings over the rest of your fixed window, adds any cashback, and gives a verdict.
Then ring your bank for the real fee in writing and re-run this with the actual number — the verdict updates instantly.
This is a tool only, and none of the information it produces is financial advice. Its accuracy is not guaranteed. Always check your own figures and get advice from your own financial professionals before making decisions.