Some banks have announced special lending deals for homeowners in the residential red zone who accept the Government's payout and are looking for another house.
The ASB Bank is offering to waive application fees for purchasing a new home, for
its customers living in the zone.
The ANZ Bank has set aside $1 billion in new residential mortgage lending to assist residents relocating from the red zone.
Chief executive David Hisco says there will also be a special interest rate of 3.7% for the first year.
He says the lower interest rate will mean people who have a $300,000 mortgage will save a little over $6000 in the first year.
Kiwibank has also announced that it is offering a 2% discount for its floating mortgage rates for owners of homes with red zone status, taking the rate down to 3.65%.