What is the impact of taking a mortgage holiday?

Could taking a holiday from your home loan do more harm than good? What are the long-term financial consequences of putting a temporary freeze on your mortgage payments?

6 options for borrowers whose mortgage holidays are coming to an end

Back in March 2020, Australia’s big banks and other mortgage lenders offered to let mortgage holders defer their home loan repayments and relieve some of the financial pressure from the pandemic. With the initial six-month time limit now coming to an end, many Aussie mortgage holders are now facing a choice of what to do next.  

Mortgage defaults rise, Analysts warn there’s more to come

Record low property prices and decreasing loan costs haven’t helped a growing number of people who have fallen behind on their mortgage repayments, -- and the trend is only expected to get worse.