Refinance Home loans
6 months fixed*
4.75% p.a.
2 years fixed*
5.39% p.a.
- Cash contribution of up to 1.25% (conditions apply)
- *Special rate for home loans with a minimum deposit of 20%.
- Personalised support from lending specialists who understand Police, NZDF and Emergency Services members.
Built up equity in your home?
đ For a limited time, if you own at least 40% of your home and refinance your home loan to the Police Credit Union, you could be eligible for a cash contribution of 1.25%.
âśď¸ Own less than 40% of your home? You donât miss out. If you have at least 20% equity, youâll be able to grab a cash contribution of 1.00%.
Refinance your home
If you already have a home loan elsewhere, now is a great time to consider bringing it across to Police Credit Union.
Planning renovations, debt consolidation, or other improvements? We can also look at borrowing additional funds as part of your refinance.
When you refinance with us:
- Youâre eligible for a cash contribution if you have at least 20% equity.
- Youâll benefit from competitive rates and flexible lending solutions.
- Youâll know your home loan is supporting a purpose-driven, member-focused organisation and the community of Police, NZ Defence, and Emergency Services ⌠not bank shareholders.
Become a landlord
If you already own a home, you may be in a strong position to take your next step into property investment.
We offer a compelling option for members looking to refinance their existing home and purchase an investment property at the same time. And now is arguably a great time to be looking in the property market.
With us, you only need 20% equity across both properties combined, which can be more flexible than many banks requiring higher equity levels for investment lending.
Youâll get the same cash contribution and great rates across both mortgages, and we have interest-only options available for investment properties.
Why us?
Get the same great rates and cash contributions, but have your money making a real difference.
Youâll receive the same great rates youâd expect from the major banks, but with a key difference: your loan supports a mutual community instead of funding excessive profits that head offshore.
As a member-owned organisation, we reinvest back into our members through great service, savings and lending solutions. This means your home loan is doing more than just financing a property; it is contributing to the wellbeing of people like you.
đĄ Ready to apply
If you apply for a home loan with PCU, you'll need to provide:
- 3 months of all your bank statements
- Proof of your home deposit funds (screenshots or statements)
- Your recent payslip
More about Home loans ----->
Chat with a lender ----->
Compare moving your home to PCU ----->
RatesÂ
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| Term - Standard rates* | Interest Rate p.a. |
|---|---|
| Floating | 5.44% |
| 6 months fixed | 4.75% |
| 1 year fixed | 4.95% |
| 18 months fixed | 5.29% |
| 2 years fixed | 5.39% |
| Default interest - charged in the event of a default | The interest rate applicable to the loan at the time plus a margin of 5% p.a. |
*Standard rates are for home loans with a minimum deposit of 20%. Home Loans with less than 20% deposit may include a high-LVR margin of up to 0.60% p.a.Â
Fees
| Fee | Amount |
|---|---|
| Home Loan Establishment | $100 |
| Loan Facility Agreement Variation | $50 |
| Mortgage Discharge | $75 |
| Top up fee when completed by PCU | $10 per top up |
| Top up fee when completed through internet banking | $5 per top up |
| Fixed Rate Break Fee | Calculated upon request. |
Default Fees may be payable by the Member, to the Credit Union, on a breach of the Agreement by the Member, or on the enforcement of the Agreement by the Credit Union.
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Cash ContributionÂ
If the conditions are not satisfied, PCU will require repayment all or part of the Cash Contribution, calculated as follows:
|
Time since Cash Contribution offer accepted |
Percentage of Cash Contribution to be repaid |
|
2 years or less |
100% |
|
More than 2 years but not more than 3 years |
75% |
|
More than 3 years but not more than 4 years |
50% |
|
More than 4 years but not more than 5 years |
25% |
|
More than 5 years |
0% |
The fine print
Normal lending criteria and a $100 establishment fee applies to all new loans.
A cash contribution is conditional on keeping your home loan with PCU for at least 5 years. Lending criteria, terms, conditions and fees apply to the cash contribution offer.