Fear and loathing; 70% of mortgage holders may not cope with new rates

Fear and loathing; 70% of mortgage holders may not cope with new rates
84% of mortgage holders are on a fixed rate, with 30% on floating and a further 14% on a combination of both. (Image: Bloomberg)
Staff reporters
About 3% of New Zealand mortgage holders are fearful they may have to sell a property over the next year, with 51% of mortgages due to roll over into higher rates.The latest banking monitor survey, conducted by research firm Horizon, suggested that's equivalent to 43,000 people with home loans.A further 70% of the estimated 1.34 million people who hold a bank mortgage are concerned they may not be able to afford payments when they renew at current or even higher fixed rates.The Horizon report, which had a sample of 1,091 adult respondents s...

More Property

Liquidator Damien Grant survives bid to remove him
Property

Liquidator Damien Grant survives bid to remove him

The $200m Ormiston Rise housing project has been the subject of ongoing legal battles.

Maria Slade 30 May 2025
Goodman Property expects more of the same
Property

Goodman Property expects more of the same

Stable property values helped the company report net profit after tax of $109.6m.

Gregor Thompson 29 May 2025
Mainzeal liquidators seek $4.1m more from insurers
Property Exclusive

Mainzeal liquidators seek $4.1m more from insurers

Meanwhile, Richard Yan's castle sells for $3.2m. 

Victoria Young 29 May 2025