Home equity loan NZ

If you’re looking for a home equity loan in NZ, Crester Credit offers our customers a reliable service. Home equity loans (or home equity release) involve using your home as collateral to take out a second mortgage. As a trusted financial service provider, we help our customers to access the equity of their homes in order to free up funds which can be used for everything from debt consolidation to household renovations.


Flexible responsible lending

While many lenders take a one size fits all approach, we consider individual applications on their own merit. Check out our online home equity release calculator to get an idea of repayment terms and affordability.


Looking at the broader picture

Historically, a challenging credit history may have led to an immediate refusal when applying for finance. Today the situation is different. We take a look at the broader picture including income, level of finance and security available. Chat to us today about a home equity release.


Home equity loan NZ rates

The interest rate on a home equity loan NZ is prime plus a margin. At Crester Credit, we pride ourselves on being responsible lenders, but at the same time, we like to offer our clients competitive services. Chat to us about a personalised interest rate.

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Equity bridge loan calculator

Compare and contrast repayment terms with our online equity bridge loan calculator. When looking for a home equity loan, it’s important to pay attention to the rates offered. With credit cards and unsecured loans, rates tend to be higher, so home equity loans, (as well as  home equity release loans) are an attractive option.

I want to borrow:
I can afford to repay (per week):

$30 per week

Our maximum loan term is 3 years so your repayments on a $6650 loan must be $70 (or more) per week

Takes only 4 mins
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* This is an approximate loan duration based on assumed adequate security u0026 collateral, job security, income, residence situation and positive references.

Equity bridge loan vs home equity loan NZ

Before deciding on which loan to apply for, it’s important to understand the difference between them. A home equity loan NZ is a loan that is taken out up to the value of the difference between the current market value of your home and the homeowner’s equity. This can be a significant amount and many customers make use of these for debt consolidation, home renovations, or other large and important purchases. An equity bridge loan is a short-term loan using the home’s equity as collateral. One popular use for this type of loan is helping to secure the purchase of a new home whilst waiting for the sale of a current one.

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What does one need to apply for a home equity loan?

In order to apply for a home equity loan NZ, there are some things you will need. Firstly, you will require some equity on your home loan or mortgage to the same value as the loan you will be applying for. A good credit score and a low debt-to-income ratio are also common requirements. Depending on the lender, you may need to provide proof of income, as well as details on any assets you hold, and finally your employment status.

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What is the difference between home equity and home value?

The equity on your home is the value of the fair current market value of the property, minus the loans currently taken against it (usually a mortgage). This amount is the maximum amount of value that you can take on a home equity loan. Home value is the current value of your home, usually assessed by a banker or real estate agent.

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Home equity release for debt consolidation

A popular use for a home equity loan is debt consolidation. So often it happens that individuals take on multiple lines of credit, be it from credit cards, store accounts, and more. With debt consolidation, you can pay off all your loans in one go, and then pay back that lump sum each month. A home equity loan is a good way to do this as it can free up large sums of cash.

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Home equity loan for home improvement

Another popular use for a home equity loan is to invest in improving or renovating your home. For many, this can be a worthy investment, as it can increase the value of the home overall and result in good returns later down the line when they are looking to sell the property.

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Home equity loans tax deduction

Many people wonder what the tax implications are of taking a loan against the equity of their home. The best thing to do if you’re unsure is to chat to a tax advisor. In many cases, the interest on a home equity loan can be tax deductible, but it all comes down to what exactly the loan was used for.

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Home equity loan for education expenses

Investing in tertiary education can be a costly exercise. Education loans can also come with high interest rates. Many people will look to a home equity loan as a way of paying for a university or college course, whether it’s for themselves or their children.

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What if I have bad credit?

Unfortunately, bad credit will affect your chances of getting approved for a home equity loan. At Crester Credit, we are responsible lenders and so ensure that our clients can afford the loans they are seeking. However, other factors are taken into account, such as other investments and the strength of your income.

Frequently Asked Questions


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Our online application form takes only six-eight minutes to complete. Start by filling this in, and if you’d like to talk with one of our loan officers, please make a note of it in the application.

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Home Equity Loans Questions? Ask Our lending team

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We appreciate that time is very often of the essence when it comes to buying machinery, therefore we typically respond almost immediately. In the interests of transparency, our charges, interest rates, as well as terms and conditions are published on our website. An in-depth commonly asked questions page will also address various issues that may arise. We have the experience and the resources available to assist with all things related to machinery finance.

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