NZHL review: how NZ Home Loans works, its lenders and fees
NZHL (NZ Home Loans) is a mortgage adviser network owned by the same government company as Kiwibank. Here's which lenders NZHL works with, how it gets paid and what fees you might pay.
By Jason Dark, updated 8 November 2026
The short version
- NZHL stands for New Zealand Home Loans. The network has about 70 locally owned offices and was founded in Hamilton in 1996.
- NZHL is owned by Kiwi Group Capital, the government-owned company that also owns Kiwibank.
- NZHL offers advice on home loans from four lenders: its own NZHL home loans (provided by Kiwibank), as well as ASB, Westpac and Liberty Financial.
- NZHL charges an application fee when a new loan settles, which is different from most brokers. You might also pay a fee if you repay or refinance within 24 months.
Is NZHL a good mortgage adviser?
NZHL is a good fit if you want help paying off your loan faster and prefer meeting a local adviser in person. Advisers set up your loan so your income and savings go into an account that lowers the daily interest. NZHL calls this channelling. The main drawback is limited choice. NZHL works with four lenders, while Loan Market advisers work with more than 30. If ANZ or BNZ offer a better deal, NZHL can't arrange those loans.
Which lenders NZHL uses
NZHL's disclosure statement lists four lenders: NZHL home loans (provided by Kiwibank), ASB, Westpac and Liberty Financial. Advisers can also help with personal insurance from NZHL Life, Fidelity Life, AIA, nib and Partners Life.
Want to talk to a mortgage adviser?
Ask an adviserWhat NZHL costs
Your first meeting with NZHL is free. NZHL charges an application fee for a new loan or extra borrowing once it's approved and settled. The fee amount isn't published, so it's best to ask your adviser before you start. If you repay or refinance within 24 months, the lender might take back NZHL's commission, and NZHL may charge you a fee to cover this, up to a set limit.
The lender pays NZHL a commission when your loan settles and also pays a yearly servicing commission as long as your loan stays with NZHL.
Who owns NZHL
NZHL is owned by Kiwi Group Capital, a government-owned company that also owns Kiwibank. Kiwibank provides NZHL's own home loans. NZHL says its advisers choose lenders based only on your needs. The local offices are franchises and aren't owned by Kiwi Group Capital.
If you're comparing advisers, the mortgage broker guide for your town lists the questions the FMA suggests asking each one.
Common questions
Is NZHL a bank?
No. NZHL is a network of mortgage and insurance advisers. Its own NZHL home loans are provided by Kiwibank, and it also arranges loans from ASB, Westpac and Liberty Financial.
Is NZHL owned by Kiwibank?
Not directly. Both NZHL and Kiwibank are owned by Kiwi Group Capital, which is a government-owned company.
Does NZHL charge fees?
Yes. NZHL charges an application fee when a new loan settles. You may also have to pay a fee if you repay or refinance within 24 months.
Want to talk to a mortgage adviser?
A licensed mortgage adviser will look at your situation and tell you which rates and loan options you might qualify for. This advice is free.
Sources
Tools for this
Want to talk to a mortgage adviser?
Ask an adviserKeep reading
All guides in Mortgage brokers- Squirrel Mortgages review: how the broker works, fees and lendersSquirrel is a mortgage broker based in Auckland that also offers its own peer-to-peer lending. Here's how Squirrel is paid, what fees you might pay if you leave early and what makes it different.
- Loan Market review: how the adviser network works, fees and lendersLoan Market is a group of local mortgage adviser businesses that work with more than 30 banks and lenders. Here's how the network operates and how its advisers are paid.
- Mike Pero Mortgages review: lenders, fees and how it gets paidMike Pero Mortgages has been arranging home loans since 1990 and works with more than 20 banks and lenders. Here's how it gets paid, what it may charge and who owns the company.