The Government has announced a six-month mortgage holiday for those whose incomes have been affected by Covid-19. The Government, retail banks and the Reserve Bank announced a major financial support package for home owners and businesses affected. The package will include a six-month principal and interest payment holiday for mortgage holders and SME customers whose incomes have been affected by the economic disruption from Covid-19. "A six-month mortgage holiday for people whose incomes have been affected by Covid-19 will mean people won't lose their homes as a result of the economic disruption caused by this virus." The Government, Reserve Bank and the Treasury continue to work on further tailor-made support for larger, more complex businesses, Robertson said.
Source: Otago Daily Times March 24, 2020 02:10 UTC