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Mortgage payment holiday examples

When requesting a payment holiday for you mortgage, it's impotant that you understand the impact on your overall balance and your monthly payments. 

We've provided below illustrative examples of a 3-month mortgage payment holiday, demonstrating the impact on monthly payments when paying 50% or 0% of your monthly payment amount for 3 months.

These examples are based on the assumption that your interest rate and mortgage term will remain the same after the payment holiday and are not due to change under your existing terms and conditions.

Example 1

Remaining mortgage term: 5 years. Fixed interest rate: 2%.

Example 2

Remaining mortgage term: 10 years. Fixed interest rate: 2%.

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