Ƶ

Mortgage Agreement Template for New Zealand

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your document

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Mortgage Agreement

I need a mortgage agreement for a residential property purchase in Auckland, with a fixed interest rate for the first 5 years, a 30-year loan term, and options for early repayment without penalties. The agreement should also include clauses for property insurance and maintenance responsibilities.

What is a Mortgage Agreement?

A Mortgage Agreement is a legal contract between a lender and borrower that creates a security interest over property in New Zealand. When you take out a home loan, this agreement gives your bank or financial institution the right to claim your property if you stop making payments.

The agreement spells out key details like interest rates, payment schedules, and default conditions under NZ's Property Law Act 2007. It also outlines your obligations as the borrower, including maintaining insurance and keeping the property in good condition. Once registered with Land Information New Zealand (LINZ), the mortgage appears on your property's title until you've fully repaid the loan.

When should you use a Mortgage Agreement?

You need a Mortgage Agreement when buying property in New Zealand using bank financing or when refinancing an existing home loan. Most commonly, first-home buyers use these agreements to secure their initial property purchase, while property investors rely on them for expanding their portfolios.

The agreement becomes essential during major life events like upgrading to a larger home, investing in rental properties, or accessing your home's equity for renovations. Lenders require this document before releasing funds, and it must be properly registered with LINZ to protect both parties' interests. Timing is crucial - having the agreement ready helps avoid delays in settlement and ensures compliance with the Property Law Act.

What are the different types of Mortgage Agreement?

Who should typically use a Mortgage Agreement?

  • Banks and Financial Institutions: Create and issue the Mortgage Agreement, set loan terms, and hold security interest over the property
  • Property Buyers: Sign as borrowers, take on repayment obligations, and pledge their property as security
  • Lawyers: Review agreements, advise clients, and handle registration with LINZ
  • Mortgage Brokers: Negotiate terms between lenders and borrowers, assist with application process
  • Property Valuers: Provide independent valuations required for loan approval
  • Insurance Companies: Provide required property insurance coverage specified in agreements

How do you write a Mortgage Agreement?

  • Property Details: Gather title reference, property address, and current registered owners from LINZ records
  • Loan Information: Document loan amount, interest rate, term length, and repayment schedule
  • Party Information: Collect full legal names, addresses, and contact details of all borrowers and guarantors
  • Security Details: List any additional security or collateral being offered
  • Insurance Requirements: Specify required property insurance coverage and provider details
  • Special Conditions: Note any unique terms, early repayment options, or specific borrower obligations
  • Documentation Check: Our platform ensures all essential elements meet NZ legal requirements and bank standards

What should be included in a Mortgage Agreement?

  • Parties' Details: Full legal names, addresses, and roles of lender and borrower(s)
  • Property Description: Legal title reference, physical address, and property boundaries
  • Loan Terms: Principal amount, interest rate, payment schedule, and loan duration
  • Security Provisions: Details of the property being mortgaged and any additional security
  • Default Conditions: Circumstances constituting default and lender's remedies
  • Insurance Requirements: Mandatory property insurance specifications
  • Early Repayment Terms: Conditions and fees for early loan discharge
  • Execution Block: Signature requirements under Property Law Act 2007

What's the difference between a Mortgage Agreement and an Asset Purchase Agreement?

A Mortgage Agreement differs significantly from an Asset Purchase Agreement in several key ways, though both deal with property transactions. While a Mortgage Agreement creates a security interest over property to secure a loan, an Asset Purchase Agreement handles the outright sale and transfer of property or business assets.

  • Purpose: Mortgage Agreements secure loans against property, while Asset Purchase Agreements transfer ownership completely
  • Duration: Mortgages typically last 15-30 years, but Asset Purchase Agreements complete once settlement occurs
  • Parties Involved: Mortgages involve lenders and borrowers; Asset Purchase deals with buyers and sellers directly
  • Legal Effect: Mortgages create an ongoing security interest; Asset Purchase transfers full legal title immediately
  • Financial Structure: Mortgages involve regular repayments; Asset Purchase usually involves a one-time payment

Get our New Zealand-compliant Mortgage Agreement:

Access for Free Now
*No sign-up required
4.6 / 5
4.8 / 5

Find the exact document you need

Mortgage Subordination Agreement

A New Zealand law-governed agreement that modifies the priority ranking between multiple mortgages on the same property, allowing a senior mortgagee to subordinate their security interest to another mortgagee.

find out more

Mortgage Principal Agreement

A New Zealand-governed agreement establishing the core terms and conditions between lender and borrower for a mortgage loan, including security arrangements and repayment terms.

find out more

Mortgage Variation Agreement

A New Zealand-compliant agreement that modifies existing mortgage terms between a lender and borrower, ensuring legal registration of changes.

find out more

Mortgage Broker Agreement In Principle

A New Zealand-compliant preliminary agreement between a mortgage broker and potential borrower(s) establishing the terms of mortgage broking services.

find out more

Home Loan Agreement

A New Zealand-compliant legal agreement setting out terms and conditions for a residential property loan, including security arrangements and borrower obligations.

find out more

Mortgage Loan Extension Agreement

A New Zealand-compliant agreement that modifies and extends the terms of an existing mortgage loan, specifying new payment terms and maturity date.

find out more

Family Mortgage Agreement

A New Zealand-compliant legal agreement documenting a mortgage arrangement between family members, securing a loan against real property.

find out more

Mortgage Separation Agreement

A New Zealand legal agreement that establishes the terms for separating or restructuring mortgage obligations between parties ending their relationship, governed by NZ property and banking laws.

find out more

Joint Mortgage Agreement

A New Zealand-compliant agreement establishing terms for multiple borrowers jointly securing a mortgage loan against a property.

find out more

Third Party Mortgage Agreement

A New Zealand law-governed agreement creating a mortgage security interest over a third party's property to secure another party's borrowing obligations.

find out more

Mortgage Extension Agreement

A New Zealand law-governed agreement that extends or modifies the terms of an existing mortgage, including new payment schedules and conditions.

find out more

Revolving Agreement

A New Zealand law-governed agreement establishing a revolving credit facility with flexible drawdown and repayment terms.

find out more

Mortgage Lease Agreement

A New Zealand-compliant legal document combining mortgage financing terms with property lease conditions in a single agreement.

find out more

Mortgage Assumption Agreement

A New Zealand law-governed agreement that enables the transfer of mortgage obligations from an existing borrower to a new borrower, with the lender's consent.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.