Paying your mortgage: the twilight years

Make the most of the twilight years of your mortgage life cycle as you become mortgage-free.

2 minute read

The final countdown

All your years of hard work are close to paying off, and you’re about to become mortgage-free. Instead of wondering whether you should increase your repayments or restructure your mortgage, there’s a new question on the horizon. What will you do with your income now that it’s not going straight towards your home loan?

Put it towards your KiwiSaver

Consider putting your usual mortgage repayments towards your KiwiSaver account, to help with your retirement planning. With the BNZ KiwiSaver Scheme, you can view your account at any time, so you can always see how things are progressing.

Think about investing

You could also look at putting the money usually reserved for your mortgage repayments into an investment like a managed fund. These invest in shares, bonds, and cash.

Most importantly

Dust off a celebratory bottle of champagne and raise a glass to all your hard work. By now, you’ll have earned it.

A new mortgage can bring some overwhelming life changes with it. But by understanding its life cycle and knowing what lies ahead, you can take on your home loan with confidence. To talk more about your mortgage, get in touch with us by visiting a branch or contacting us on 0800 275 269.

Paying your mortgage: the early days

Life has ups and downs, and so does your mortgage. Find out how to make the most of your mortgage in the early days.

Paying your mortgage: a few years in

Find out how to make the most of the early years of your mortgage life cycle.

Common investing mistakes

Many people don’t realise that the greatest impact on their investment returns could be their own behaviour. Here are four common mistakes to avoid.

Related tools

Home loan repayments calculator

TotalMoney offsetting calculator

KiwiSaver retirement savings calculator

Manage your home loan

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This material is for general information purposes only and does not constitute, and is not intended as, personalised financial advice or as a replacement for legal advice. BNZ strongly recommends you seek advice specific to your personal financial or legal situation from a qualified adviser. Neither BNZ nor any person involved in the material accepts any liability for any direct or indirect loss or damage arising out of the use of, or reliance on, all or any part of the content.

All home loans are subject to our lending criteria (including minimum equity requirements), terms and fees. Interest rates are subject to change. An establishment fee of up to $150 may apply. Not for business purposes. Read our full home loans terms and conditions.

References to third party websites are provided for your convenience only. BNZ accepts no responsibility for the availability or content of such websites.

Investments in BNZ KiwiSaver are not bank deposits or other liabilities of Bank of New Zealand (BNZ) or any other member of the National Australia Bank Limited group. They are subject to investment risk, possible delays in repayment, possible loss of income and possible loss of principal invested. No person (including the New Zealand Government) guarantees (either fully or in part) the performance or returns of BNZ KiwiSaver or the repayment of capital. National Australia Bank Limited, the ultimate owner of BNZ, is not a registered bank in New Zealand but a licensed bank in Australia and is subject to the supervision of the Australian Prudential Regulation Authority.