HomePlus (closed to new applications)

Home equity release

Information on this page is for existing HomePlus customers. HomePlus is closed to new applications.

Interest rate

Term Rate
HomePlus variable rate

Interest rates are subject to change at any time without notice. ASB’s Home Loan Criteria applies.

Fees and charges

There are some fees and charges that are involved in setting up and maintaining your HomePlus loan. These include:

Loan processing fee

This covers the cost of the comprehensive 6-step advice and application process with a HomePlus consultant, as well as the cost of ASB processing your application. This fee will be deducted from your HomePlus account once your loan account is set up.

Registered valuation fee

The value of your home plays a large part in how much you can borrow. We require you to get an independent registered valuation before your loan is approved, which you will need to pay for.

(typically around $500)

Independent legal fees

You will be required to obtain independent legal advice as part of the application process, which you will need to pay for.

(typically around $1,000)

Top up fee

To increase the amount of an existing home loan.

Copy of loan agreement or supporting documents fee

When you request a copy of your loan agreement or any other documents supporting your loan application held by ASB.

per item

LINZ search fee

When a copy of your title is required.

per title

Registrations affecting land titles

When you request one of the following that affects the land title:

  • Deposit of unit plan
  • Easement
  • Encumbrance
  • Subdivision or cross lease (with no new mortgage required)
  • Variation of lease

Release of repaid mortgage fee

When you have repaid your home loan in full and the mortgage is requested to be released.

Settlement statements fee

When we receive a request from your solicitor for a settlement statement as part of releasing your mortgage.

Local body rates demand notice fee

When we have to write to you due to a failure to make payment of your local body rates.

Plus an additional charge will be incurred if we have to make a rates payment on your behalf.

Loan demand fee

When we have to write to you due to the preparation of a formal demand for the repayment of your outstanding debt.

Default interest rate (Variable) / Unarranged Overdraft Interest Rate: When you default on your home loan and the deduction account is overdrawn or in excess of an agreed overdraft limit. The interest will be calculated daily on the overdrawn amount, or the amount in excess of the arranged limit, at the Unarranged Overdraft interest rate until paid in full. The interest rate is subject to change at any time.


HomePlus loans are subject to specific lending criteria including a registered valuation of your property and you will be required to seek independent legal advice as part of the application process, both these additional fees you will need to pay.  ASB may also require you to obtain further valuations during the life of your HomePlus loan, which you will need to pay.

Terms and Conditions

ASB Mortgage Memorandum
HomePlus Annexure
HomePlus General Terms and Conditions

All fees are subject to change. You can download our Guide to Fees and Home Loans & Personal Loans - Guide to Fees. Copies are also available from your nearest ASB branch.

Loans for business purposes are excluded and are for New Zealand residential property only.
You will also need to have an ASB transaction account (like Omni or Streamline) to access your HomePlus loan.  

Home loans HomePlus (closed to new applications)