A warning mortgage holidays should only be taken by those who need them.

The Government and banks have agreed on a package that'll include a six month principal and interest payment holiday for people affected by Covid-19.

Massey University banking expert Claire Matthews told Kate Hawkesby interest continues to be charged and that's added to your loan.

She says at the end of the holiday period, you owe more to the bank than you did at the start.

Matthews says depending on the size of the loan, that can be quite a substantial amount.

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