ANZ Bank New Zealand (ANZ NZ) has today started taking applications for customers financially impacted by Covid-19 to defer mortgage repayments for six months.
Mortgage repayment deferrals mean that qualifying customers will not make principal and interest payments on their loans for six months, although interest will continue to accumulate.
The deferrals includes home loans and business home loans.
“Covid-19 restrictions are financially impacting thousands of home-owners and businesses, and for many the ability to maintain their home loan is a major concern,” said Ben Kelleher, Managing Director Retail and Business Banking for ANZ NZ.
“Home loan deferrals are designed to help reduce their outgoings by temporarily stopping home loan repayments. Loan deferrals will extend the life of the loan and add to the overall cost, so they might not be for everyone.
“We’ll be talking to customers to ensure a loan deferral is the best option for them, and that other options might better meet their needs.”
Customers can apply for home loan deferrals with the online form and ANZ will contact them from Monday afternoon to discuss their circumstances.
Forms for home loans and business home loans are available here:
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