Restructure and reduce your payments
If your circumstances have changed and you can’t manage your regular repayments, we might be able to restructure your home loan and lower your minimum repayments.
A repayment holiday means you pay nothing at all on your home loan for an agreed amount of time. If you do this, you need to be aware that your loan will continue to be charged interest while you’re not making any repayments.
You should only consider applying for a repayment holiday as a last resort and only for as long as you need to get back on your financial feet.
With an interest-only loan, you only have to pay the interest on your loan. Your loan principal won’t go down, but it also won’t go up. Just paying the interest means your repayments will be lower, but you won’t be reducing your home loan balance.
Get in touch
The sooner you talk to us, the better, so start the conversation early.
To talk about restructuring your loan, applying for a repayment holiday or going interest-only, call our home loans team on 0800 000 654.
If you’re experiencing financial hardship call 0800 222 224 to talk to our financial hardship team.