Kiwis make no attempt to pay off their mortgages

As many as one in four homeowners are treading water on their mortgage repayments, making no attempt to repay the debt.

It is easy to see the appeal of an interest-only loan. Borrowers save money by only paying off the interest, rather than worrying about the actual principal. However, it can be a risky product.

As many as one in four homeowners are treading water on their mortgage repayments, making no attempt to repay the debt.

It is easy to see the appeal of an interest-only loan. Borrowers save money by only paying off the interest, rather than worrying about the actual principal. However, it can be a risky product.

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