Should I switch to interest only repayments until I'm in a better position?
If you're repaying your home loan with principal and interest repayments, switching to interest-only payments can be tempting. Your repayments will suddenly get much smaller – for a while.
But ultimately, interest only loans cost you more because you end up paying more interest. If your financial worries are short term and you have a plan in place, switching to interest only will give you some breathing space. Just be aware that this is only a temporary solution.