Unforeseen Financial Hardship

Unforeseen Financial Hardship

If you’re having problems meeting your existing Midlands Mortgage Trust (MMT) loan repayments or think that you may experience difficulty doing so in the near future please use the form below.

If you’re having problems meeting your existing Midlands Mortgage Trust (MMT) loan repayments or think that you may experience difficulty doing so in the near future please use the form below. If you leave it too long you may not be eligible to qualify.

If you’re experiencing or likely to experience significant financial hardship, you might be able to withdraw some of your savings from your KiwiSaver Scheme account. You must meet the eligibility criteria and provide documentation to support your application. You’ll also need to complete a statutory declaration and have this signed by a person authorised to take a statutory declaration.

As a current MMT customer, you are able to apply for financial assistance if you experience unforeseen problems such as:

  • illness
  • loss of employment
  • the end of a relationship
  • natural disaster
  • other reasonable cause

You must reasonably expect that a change to your lending agreement would enable you to meet your obligations going forward and not put you in further hardship. We will consider this as part of your application.

Printable form

You can apply by printing and filling in the form here, or ask for one to be posted to you.

You can either

  • Drop it off at MMT offices
  • Post it to, Midlands Mortgage Trust, 120 Karamu Road North, PO Box 609, Hastings 4256
  • Email it to, mark@mmt.net.nz


Click here to download application form


How we can help

Some of the things we may be able to offer are:

  • An extension of the loan term
  • A postponement of repayments for a specified period
  • Extension of both the loan term and postponement of repayments for a specified period.

If you have questions about this process, you can find out more in our frequently asked questions section or contact our Customer Care team on 0800 870 326, between 8am and 5.00pm Monday to Friday.

Information for Budget Advisors and Authorised Third Parties

If you are a budget advisor or third party you are also able to complete the Financial Hardship Application form.  For further information please call our Customer Care team between 8am and 5.0pm on 0800 870 326, Monday to Friday.

Frequently asked questions

We’ve answered some common questions you might have about the Unforeseen Financial Hardship process.

Can I apply for KiwiSaver hardship using this form?

No. KiwiSaver has its own dedicated financial hardship application process. To find out more information on that process, please refer to the KiwiSaver section on your providers website.

How long am I able to receive assistance for?

This will depend on the solution offered, if any. For example, whether the term of your loan is extended, and/or you are offered a repayment holiday for a fixed period of time.

What type of assistance is available?

Assistance is determined on a case by case basis and could include reduced repayments and/or term extension.

This means that you may be able to pay back your loan over a longer period (which would reduce your monthly payments, but increase the overall cost). You may also be allowed to pay reduced payments or just the interest payments for a period (which would reduce your monthly payments, but increase the overall cost).

Is there anything that I can do?

There are many options available to you before completing an application with us. We’ve included some options below for consideration:

  • If you’ve lost your job and have income insurance cover, get in touch with your insurance provider to see if you’re covered for loss of income.
  • Obtain independent, free debt advice from organisations such as NZ Federation of Family Budgeting Services, and Citizens Advice Bureau etc.
  • Contact us if you are having problems making payments or think that you may soon experience financial problems.
  • Keep to any payment plan you have agreed to. If your circumstances change that may affect your payment arrangement, let us know. Please be aware that if your loan is secured and you don’t keep up with your repayments, MMT may enter into possession of, and/or sell the secured property. You will remain personally liable for any shortfall.
  • Make sure you keep anyone guaranteeing the loan(s) up to date with what is happening.
What happens when I fill in the online application form?

Once we have received your application, we will acknowledge receipt of this in writing within five working days.

What happens if I cannot fill the form out online?

You can download the form and return it via email to mark@mmt.net.nz, drop it into the MMT office, or send it by post to:

Midland Mortgage Trust
PO Box 609
120 Karamu Road North, Hastings 4156

We will acknowledge receipt of your application in writing within five working days.

What supporting documents do I need?

Applications are assessed on a case by case basis and we may require further information and/or documentation to be able to complete our assessment, for example:

  • WINZ documents
  • medical information
  • proof of income and expenditure
Will I still receive collection calls and correspondence from MMT whilst my application is being processed?

Collection notices and phone calls will continue until your application is accepted. It is important that, where possible, you maintain your repayments to avoid the risk of escalating debt and any additional interest or charges being incurred.

Can someone else negotiate on my behalf?

Yes. If you provide your consent, we can discuss and negotiate a solution with your nominated representative, such as a budget advisor or other third party.

What happens if my application for Financial Hardship is declined or I am not happy with the outcome?

Once your application has been assessed, we will advise you of the outcome in writing. If your application has been declined, we will also provide the reason for this in writing.

Please note that even if your application does not meet the eligibility criteria for an unforeseen hardship application under the Credit Contracts and Consumer Finance Act 2003, we may be able to provide other assistance on a case-by-case basis.

You also have the right to apply to the court to make changes if you have made a Financial Hardship application and you do not agree with the outcome.

How long will it take to decide my Financial Hardship application?

We will try to let you know the outcome of your application as soon as we are able, but no later than 20 working days after we receive a valid Financial Hardship application from you, provided we do not need any further information from you.

Sometimes, we may require further information from you to assist us to consider your application. If we do, we will request this further information within 10 working days from the date we received your application. In this case, we will try to let you know the outcome of your application as soon as we are able, but no later than:

  • 10 working days after receiving the further information requested; or
  • 20 working days after making the request for further information,

Whichever is the later.

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In light of the COVID-19 Levels imposed across New Zealand all Midlands staff, where possible, are now working from home.

Please note that our Hastings office will be closed to the public from this date forward.

We continue to operate essential functions of the fund, which includes settling of mortgage loans and distributions of income to investors. However, some other functions will naturally be delayed. We appreciate your understanding at this time. Please call 0800 870 326 should you have any queries.

Be safe, and please look after yourself and each other.

Tobias Taylor, CEO