Who we are
MyRateCheck is built and powered by Riverhorse Technologies Limited. We built MyRateCheck because working out whether refinancing is actually worth it usually means digging through rate sheets, running your own spreadsheet, or booking a call just to get a ballpark number. We wanted a faster, free way for homeowners to see where they stand before talking to anyone.
We are not a bank and we don't lend money. We're independent of any single lender. We don't tell you which bank to switch to, and switching isn't something we get paid by a bank to push. If you choose to act on your results, a licensed NZ adviser may follow up to help you through the process.
How MyRateCheck actually works
Enter your current loan balance, interest rate, fixed term, property value and payment frequency. From there, we run three full month-by-month amortisation schedules, not a shortcut formula, and compare them side by side:
- Your loan today: Your current balance, rate and remaining term, paid on the standard schedule.
- Refinance with cashback: The same balance, refinanced at the best fixed rate available in our current rate table, with any net cashback applied as a lump-sum reduction against your principal on day one.
- Continue paying your current amount: As above, but if you keep paying the same dollar amount you pay today, the extra above the new lower required payment goes straight to principal every month.
The result is a report showing the interest and time you could save. For the full maths behind each step, see our detailed methodology.
Where our rate data comes from
We maintain a Live Rates table sourced from published lender rates and adviser updates, and automatically select the lowest available rate for a matching fixed term. No other rates are assumed. Rates move, so always treat the figures in your report as indicative for the day you ran it. Learn more about how NZ mortgage rates are set in our rates guide.
What we do check, and don't
MyRateCheck does not perform a credit check. You're comparing your existing loan details against today's published market rates, and tips to save your repayment. It's no cost, no obligation with the result. If you'd like help acting on it, a licensed NZ adviser may contact to support you.
Get in touch
Questions about your report, our methodology, or how we handle your information? Email us at [email protected], or read our FAQ for quick answers to the most common questions.