by Mortgage Rescue InformationMortgage Holiday During the COVID-19 Crisis: To Take or Not to Take As news of Grant Robertson’s announcement on the 24th of March went round, many homeowners were left wondering whether to take or not to take the mortgage holiday. A mortgage holiday amidst the coronavirus crisis is a welcome break from all the anxiety and […]
by Mortgage Rescue InformationTo cushion homeowners in New Zealand, the government agreed with lenders on a mortgage holiday scheme. The lenders will offer a 6-month mortgage holiday to Kiwis whose incomes have been affected by the COVID-19 pandemic. Not all the details are out. However, before you sing Hallelujah, think twice. Back in 2009 when Prime Minister John […]
by Mortgage Rescue InformationDuring the 2008-2009 financial downturn, Prime Minister John Key recommended a 12-month mortgage holiday. This year, the government has offered homeowners the same remedy once again amidst the Covid-19 crisis. But what’s a mortgage holiday? How does it impact your mortgage? Is it the only option available for homeowners during financial hardships? Read on and […]
by Mortgage Rescue InformationFollowing widespread economic breakdown due to the coronavirus (COVID-19) pandemic, the government has undertaken a raft of measures to safeguard Kiwis. Among the actions was a deal with retail banks to extend to homeowners a 6-month mortgage holiday. What is a mortgage holiday? A mortgage holiday happens when you take a break from making your […]
by Mortgage Rescue InformationThe thought of being hit by a major economic crunch that jeopardizes your financial well-being can cause sleepless nights. Especially when it’s inevitable, like the current COVID-19 crisis. But you can take measures to mitigate the effects. The government, along with banks have taken a step to relieve the impact. There’s support for businesses and […]
by Mortgage Rescue InformationThe impact of the Covid-19 crisis is gradually taking shape in New Zealand. As Kiwis get-into-terms with the COVID-19 crisis, one can’t help but wonder how it will affect daily living. It’s impossible to ignore the concerns about the financial impact. The government sanctioned mortgage holidays as a way out. But is a mortgage holiday […]
by Mortgage Rescue InformationOn 24th March 2020, Finance Minister, Grant Robertson, announced that the government had struck a deal with major retail banks. They settled that banks would give a mortgage holiday of up to six months for Kiwis whose incomes have been disrupted by the COVID-19 pandemic. But the deal only touched on the protocols of application. […]