Sometimes unforeseen circumstances can make it challenging to meet mortgage repayments. In some scenarios, lenders can offer a mortgage deferment for a set period of time. This can save you in the short term, however it is important to note that the interest continues to accrue even when it is deferred, and will be added to the amount owing. This means you could end up with a higher monthly payment once the deferral ends and the total interest payable could be higher over the life of the loan.
This calculator can help you determine how much a payment pause could cost. For more help about whether you can defer your loan repayments or how much it will cost, speak to your broker.