Mortgage holders are being warned not to take a repayment holiday if they don't need it
Mortgage holders are being warned not to take a repayment holiday if they don't need it
27 March 2020
Banks have confirmed they'll be offering mortgage payment deferrals of up to six months due to COVID-19.
But interest will still accrue during this time.
New Zealand Bankers' Association chief executive, Roger Beaumont, says a break from payments won't be for everyone.
He says if you're on salary and your income hasn't been affected by COVID-19, this wouldn't be the best option for you.
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