Information for customers requiring financial assistance

If you have been affected by COVID-19 and are concerned about your financial position, please contact Resimac by email hardship@resimac.co.nz or phone your Financial Adviser directly. We have consultants available to help with enquiries for the relief options available to customers experiencing financial hardship.

Common types of assistance we support include:

  • Deferred repayments
  • Long term repayment arrangements
  • Time to seek financial / counselling advice
  • Reduced repayments
  • Capitalisation of arrears

Our team of specialists will work in partnership with you to determine the most suitable arrangement for you.

Our team is working to answer your enquiries and assess your financial hardship assistance applications as promptly and efficiently as possible in this challenging time. We appreciate your patience as we work through these.

Frequently Asked Questions

Following the recent government announcement please see below responses to some commonly asked questions about mortgage repayment holidays and other financial hardship assistance options.

What is a mortgage repayment holiday?

A mortgage repayment holiday is a period of up to six months, during which time you aren’t required to make any repayments on your loan. Interest will continue to be charged to your mortgage, meaning that your principal mortgage balance will increase.

At the end of the holiday period your loan repayments will be recalculated over the remaining term. This means your regular installments will increase, so it is important to consider your long term plans if considering this option.

What are “Interest Only” repayments?

Interest Only repayments are equal to the amount of interest being charged to your loan, so they don’t reduce the principal balance owing. Thus they are lower than the amount of “Principal and Interest” repayments, which do reduce the loan balance.

Interest Only is available for a temporary period, after which your loan will revert to Principal and Interest repayments.

As your loan balance doesn’t change during the Interest Only period, your Principal and Interest payments will increase at the end of the Interest Only term as you have a shorter period to repay the balance of your loan.

What other options are there?

Other options include a payment deferment and a combination of some of the above options, such as a 1-3 month repayment holiday followed by an Interest Only period to get you back on your feet.

What action should I take if I am concerned about my financial situation?

We recommend speaking with your Financial Adviser with regards to your options.

If you would like to submit an application for financial hardship assistance, you or your Financial Adviser can complete the application form and email it to us at hardship@resimac.co.nz .

Our team can provide the options specific to your loan once we have assessed your hardship application.


Our team is experiencing high enquiry volumes and will come back to you as soon as we can.

Please note we are unable to accept phone calls, so please direct financial hardship assistance requests to hardship@resimac.co.nz .

If your enquiry is unrelated to financial hardship assistance please email us at customerassist@resimac.co.nz .

Financial hardship assistance

We recognise that borrowers may from time-to-time experience financial hardship, or for whatever reason may have missed a repayment or be unable to make their upcoming repayment(s). The most critical action one should take in such a situation is be up-front about your situation. We have a dedicated team to assist clients with a Resimac loan, and from the range of options we have available to those experiencing hardship we will attempt to help find the most appropriate solution for your situation. We may have greater flexibility if you make contact with us early on.

  • Hardship Fact Sheet

  • Hardship Application Form