Question about the Total Money product:
Let’s say I have a Total Money loan that had an original principal amount of $10k. Now, some time later, I have paid off $2k of this principal - am I able to get access to this paid off principal without a restructure?
Sounds like you’re talking about a re-draw.
Taken from - https://www.bnz.co.nz/personal-banking/home-loans/manage-your-loan/top-ups#redraw
Get your extra repayments back
If you’ve made extra repayments to your home loan (on top of your regular minimum repayments), you may be eligible to borrow back (‘re-draw’) these additional repayments, without having to go through the full application process.5 The minimum amount you can borrow back is $3,000.
Unfortunately, you can’t do this if:
•you have a home loan on a fixed interest rate
•you have an interest only home loan
•you want to use the re-drawn amount for home renovations or construction that requires a building permit
•you’ve paid off a significant amount of your home loan through the sale of property
•the amount you want to borrow is more than the total of your extra repayments.
Thanks, it sure does sound like that. Just not clear on how to do this.
Probably best to have a chat to a staff member.
Would be interested to hear how you get on if you do give them a call.
Hi @ouq77! I would recommend calling our Home Lending team on 0800 080 222 to have a chat about how we can help you with your TotalMoney loan 
Thanks, Emma
Hi @ouq77 if you haven’t got this sorted yet, just wanted to add there is a Home Loan top-up form on the Apply Now section of Internet and Mobile banking. Fill that out and someone will be in touch.
kind regards
Adrian
Keep in mind these are the views of fellow BNZ Community users, and not BNZ.
