Can I apply for a mortgage repayment deferral?

Last Updated: 16 Feb 2023

A mortgage repayment deferral (also called a home loan holiday) means that the regular repayments to your loan are stopped for a period of time. You can take up to a 3 month deferral from making payments but there must be a minimum of 12 months between the expiry of a mortgage repayment deferral and the beginning of another. Provision of a mortgage repayment deferral is subject to meeting specific lending criteria and terms and conditions. 

Interest is still charged and is added to the loan. This means your loan balance will increase and you’ll likely pay more interest overall. After the mortgage repayment deferral ends, the repayments will likely be higher unless the loan term is extended. 

We recognise that life is always changing, but ASB is here to help you through those times of financial pressure.  Find out more about ASB’s commitment to customers in financial difficulty.

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