Buying guide

Mortgage holidays: Can I take one and what will it cost me?

In some cases you may be able to take a break from mortgage repayments. Here’s everything you need to know.

Ben Tutty
Last updated: 13 June 2024 | 6 min read

What is a mortgage holiday?

Applying for a mortgage holiday in NZ: Two steps

A mortgage holiday will increase the overall cost of your loan

Everybody needs a break every now and then.

How much more could a mortgage holiday cost me?

Example of mortgage holiday extra costs

Alternatives to a mortgage holiday

Reducing your mortgage repayments to a manageable level

Making interest only payments

Extend your loan term temporarily

Consolidate high interest loans

Refinance and get cash back

When something unexpected happens there is help available to make sure you can keep your home.

Making a plan for when your mortgage holiday ends

Get free financial advice

Author

Ben Tutty Ben Tutty