Self-employed New Zealanders who took up the offer of a mortgage holiday may find themselves in the red.
The year-long payment relief plan, which was designed to ease the pressure on home owners during the pandemic, ends today.
Around 3,000 mortgage holders are still on it.
Mortgage broker Sue Tierney told Mike Hosking business owners hit hard by Covid had no choice but to take up a mortgage deferral.
"They've been affected by Covid because of the different type of businesses they are in, their incomes have reduced, and just to be responsible directors, each and every one of them have had to take a salary cut, and they are not in a position to increase it."
She says many felt forced to take up the offer, with no savings to fall back on.
"And the problem in New Zealand is the average family only saves just over $400 per annum, so if you just had your salary cut, you just can't meet your mortgage commitment."