If you own at least 40% of your home and refinance your home loan to us, you could be eligible for a cash contribution of 1.25%*.
Even if you own less than 40% of your home, you won’t miss out. If you have at least 20% equity, you could be eligible for a cash contribution of 1.00%.
Along with the cash contribution, you could receive a discount on our standard home loan rates.
* Conditions apply
Home loans
6 months fixed*
4.49% p.a.
2 years fixed*
5.25% 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.
Refinance your home
If you 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:
- You’re eligible for a cash contribution if you have at least 20% equity.
- You’ll benefit from competitive rates and flexible lending solutions.
- You’ll 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 have a special 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 that require higher equity levels for investment lending.
If you bring both to PCU, you could be eligible for the 1.25% cash contribution, along with great rates across both mortgages.
Why us?
Get the same great rates and cash contributions, but have your money making a real difference.
You’ll receive the same great rates you’d 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.
🏡 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 ----->
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Compare moving your home to PCU ----->
Rates
| Term - Standard rates* | Interest Rate p.a. |
|---|---|
| Floating | 5.19% |
| 6 months fixed | 4.49% |
| 1 year fixed | 4.65% |
| 18 months fixed | 4.95% |
| 2 years fixed | 5.25% |
| 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.
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.
Cash Contribution
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 apply 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.
*Cash contribution
The 1.25% refinance cash contribution is available for eligible new home loans and investment property lending refinanced from another financial institution to Police Credit Union.
To qualify for the maximum 1.25% cash contribution:
Home Loan only: The home loan being refinanced must have a minimum equity of 60%.
Home Loan and Investment Property: At minimum, both must be refinanced to the Police Credit Union with an overall equity of 20%.
The cash contribution amount is determined by the approved loan amount and the loan-to-value ratio (LVR) of the security property/properties at the time of application.
Interest rates, fees, lending criteria, and cash contribution amounts are subject to change without notice.
This promotion is available for a limited time and may be amended, extended, or withdrawn at any time without notice.
A cash contribution is conditional on keeping your home loan with PCU for at least 5 years. Lending criteria, terms and conditions and fees apply.
Copies of our current Terms and Conditions, Credit Risk Statement, and Product Disclosure Statement are available from the Police and Families Credit Union.
These can be viewed at policecu.org.nz, or by calling 0800 429 000.
See our Terms, Conditions, and Loan Agreements and rates.