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Mortgage Calculator: New Zealand

Work out your full monthly mortgage payment and what it costs to buy, with each country's own transfer tax, mortgage insurance and property tax. 15 countries.

Reviewed by CentExactRates effective 1 sourceCalculated in your browser. Shared links include inputs.

There is no transfer tax at all

New Zealand exempted dwellings from conveyance duty in 1988, and the Stamp Duty Abolition Act 1999 removed what was left from 21 May 1999. Nothing has replaced either. That makes it the only country in this calculator where the transfer-tax line is genuinely zero, and it is the reason total buying costs come to around 0.6% of the price (solicitor, a LIM report and a builder's report) against 8% or more in Germany, France or Spain.

The consequence is worth stating plainly: in New Zealand the deposit really is most of the cash you need. Almost everywhere else the completion costs are a second, smaller deposit that catches buyers out.

A low-equity premium, charged as a margin rather than a premium

There is no mortgage insurance here either. A lender facing a small deposit charges a low-equity premium, which is a margin added to the interest rate rather than a separate policy, so it shows up in the rate you are quoted and not as a line item. Set the interest rate on this page a little higher when modelling a purchase above 80% loan-to-value and the result will be closer to the truth.

Reserve Bank loan-to-value restrictions cap how much high-LVR lending banks may write at all, so above 80% the question is often whether a bank will lend rather than at what price.

Council rates are a flat annual charge set by each council, and a body corporate levy on an apartment or unit is separate again.

For how the calculation works, the formula behind it and what it leaves out, see the full guide. For help interpreting a result or comparing it with a quote or statement, read the questions and answers.

Data sources

New Zealand property purchase costsInland RevenueWithin its effective period

Every document each dataset was read from, its notes and how the figures were checked are listed in the guide's data sources.

This calculator in other countries

Each country has its own rates, thresholds and rules, and its own page that runs the calculator on them and cites the official sources they came from.

CentExactCalculator publisher

CentExact publishes the calculation method, worked examples and available data sources. Automated checks cover reference calculations; they do not certify a result for your circumstances or imply approval by a lender or tax authority.

How we build and test our calculators

This calculator is for general information only and is not financial advice. Results are estimates based on the figures you enter and the stated formula; lenders and providers may round or calculate differently. Check any decision with the institution involved or a qualified adviser.