How our mortgage interest rate change calculator works
Use our interest rate change calculator to help you see how the cost of your mortgage repayments could go up or down.
What you’ll need
- You will need to get your remaining mortgage balance and term from your most recent mortgage statement
- You’ll need to know the interest rate you’ll be moving to
How it works
- First enter your mortgage balance. This is how much you still need to pay to your lender
- Then, the amount of time remaining until your mortgage is paid
- Enter the current interest rate, then your mortgage type
- Click on the plus and minus to choose the interest rate change amount you want to use
Where can I find my mortgage details?
You can find your mortgage details in your most recent annual mortgage statement or from Internet Banking. If you're not registering for Internet Banking yet, it's easy and only takes about 5 minutes to register.
I have more than one sub account, how do I use the calculator?
If your mortgage is made up of more than one sub account and some of these sub accounts are on variable rates, you will need to do a separate calculation for each sub account. To calculate the total change to your monthly payment, add each sub account calculation together.
You can find out if you have sub accounts on your most recent annual mortgage statement.
If a rate change takes place and it affects your mortgage, we will send you a letter confirming your new monthly mortgage payment before it is taken.
