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Residential mortgage loan reconciliation (C35)

This data reconciles the quarterly changes in total mortgages in New Zealand by showing the increases in mortgages due to interest and drawdowns, and reduction in mortgages due to repayments and other cash flows.

Previous years: Quarterly:
Mar 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
Total lending ($ million)
Opening position 274,422 296,731 305,865 314,083 320,304 327,080
+ Drawdowns 17,996 26,709 28,062 25,540 26,272 19,586
+ Interest charged 2,823 2,407 2,362 2,323 2,445 2,470
- Scheduled repayments 4,563 4,525 4,787 4,795 4,906 4,869
- Repayment of loan in full 8,525 12,194 13,851 12,961 12,915 9,482
- Other excess repayments 3,433 3,540 3,974 4,232 4,371 3,593
+ Repayment deficiencies 115 191 339 210 230 179
- Net write-offs 4 0 2 1 1 1
+ Other adjustments 31 87 68 136 22 12
= Closing position 278,862 305,865 314,083 320,304 327,080 331,383

The data: coverage, periodicity and timeliness

Coverage characteristics

Registered banks provide data on residential mortgage loan flows to reconcile an opening stock position to a closing stock position during a reference quarter.

View our list of registered banks




We publish data 18 working days following the end of the reference quarter.

Access by the public

Statistics release calendar

The statistics release calendar provides a long-term plan of scheduled releases. We update and release it on the first working day of the month.

View the statistics release calendar


Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

We collect data under Section 36 of the Reserve Bank of New Zealand Act 1989 (the Act).

Read the Reserve Bank of New Zealand Act 1989

We only publish aggregated data. Individual institutional data is confidential.

Provision of information about revisions and advance notice of major changes in methodology

Provisional data are italicised. Data are deemed provisional when a series is under review. New data, or revised data, are in bold font. This applies to the summary table only and not Excel files. We generally publish revisions when we update and release the next table. Should we need to make revisions more promptly, we will post a special note on the website. We also post any major changes in methodology as a special note.


Dissemination of statistics that support statistical cross-check and provide assurance of reasonableness

Data on residential mortgage lending is also published in:

  • registered banks' disclosure statements
  • household credit statistics (C5)
  • new residential mortgage lending statistics (C30).

This data may differ from other published data on residential mortgage lending due to variations by some banks in the treatment of business loans secured by residential property and reverse residential mortgage loans.

See Table C5

See Table C30

Lending position

Residential mortgage loans

A loan secured by a first ranking mortgage over a residential property used primarily for residential purposes either by the mortgagor or a tenant of the mortgagor. A loan is not classified as a residential mortgage loan if:

  • the mortgaged property would be marketed as a farm or a commercial property or
  • the mortgaged property is predominately used for farming or commercial activities or
  • the principal or interest payments are predominantly serviced from the income generated by the use of the property for farming or commercial activity, except for rental income unless (4) applies or
  • the bank has recourse to, or is aware of, more than five properties owned and let by the borrower directly or through a company or any other ownership structure of the borrower, and the loan is predominantly serviced from the rental income those properties generate.

Residential mortgage loan is formally defined in BS19 (referring to BPR001)

Opening position

Opening value of on balance sheet residential mortgage loans at the start of the quarter. The opening position for this quarter is equal to the closing position of the previous quarter.

Closing position

Closing value of on balance sheet residential mortgage loans at the end of the quarter.

Treatment of revolving credit loans

For revolving credit loans only the drawn amount appears in the opening and closing position.

Differences from other published statistics

The opening and closing value of on balance sheet residential mortgage loans may vary from other published residential mortgage lending statistics due to minor variations by some banks in the treatment of business loans secured by residential property.

Lending flows


New loan amounts drawn down during the quarter and any increases (for example, loan top-up amounts) drawn down on existing loans. In the case of revolving credit loans, a net increase in the value of the loan during the quarter is reported as a drawdown.

Interest charged

Total interest charged on outstanding loan balances during the current quarter whether or not it is actually received from the borrower.

Scheduled repayments

Total value of expected principal and interest repayments contractually due during the quarter whether or not the repayments were actually received from the borrower.

Repayment of loan in full

Loans that are repaid in full during the quarter. Repayment of loans in full includes house sales and switching between banks.

Other excess repayments

Loans where actual repayments were greater than scheduled repayments. Records the amount that actual repayments exceeded those that were scheduled. In the case of revolving credit loans, a net decrease in the value of the loan during the quarter is reported as an excess repayment.

Repayment deficiencies

Loans where actual repayments were less than scheduled repayments. Records the amount that actual repayments were less than scheduled repayments (interest and principal).

Net write-offs

Loans written off during the period less the amount recovered from any previously written off loans recovered during the quarter.

Other adjustments

Other adjustments to the outstanding loan balance (for example, securitisation of loans, exchange rate valuation adjustments, capitalised loan fees and changes in the purpose of the loan). Also included are adjustments for customers migrating between loan-to-valuation ratio bands as a result, for example, of additional lending or paying down their mortgage.

Loan-to-valuation ratio (LVR)

Higher than 80% LVR lending ($million)

Residential mortgage loans, where the loan-to-valuation ratio is above 80%.

Less than or equal to 80% LVR lending ($million)

Residential mortgage loans, where the loan-to-valuation ratio is 80% or below.

Symbols and conventions for summary table

Symbol or convention Definition
0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
Light grey background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.