If you can’t make your loan repayments – contact us!
In these unprecedented times, we want to let you know how we can support you, our customers and our community, to get through the uncertainties we all face.
In order to contain the spread of the highly contagious COVID-19, governments around the world are taking extraordinary measures to limit person-to-person contact within their populations, which in turn is taking a great toll on economic activity.
The impact of these measures will be felt across all sections of our community, incomes are at risk and we expect there to be a rise in financial hardship.
We want you to know that we are here and available to support you and to assist with any of your finance needs and to answer any finance questions you may have.
What should you do if you experience financial stress or hardship?
Our Government and all banks want to help customers keep their homes.
The Reserve Bank and Federal Government are providing strong underlying support for the banking system to ensure they are able to assist home loan and business customers.
We expect all lenders will provide customers in financial hardship with a range of solutions to help you keep your homes.
These support packages will vary from lender to lender and we are staying informed of the options as they are being made available.
At this stage we expect some of the options will be:
– A deferral of scheduled loan repayments
– Temporary interest-only periods to assist with cashflow
– Debt consolidation to make repayments more manageable
Also, one of our favourite financial planners, Simone McMullin, has generously offered a complimentary phone/video consultation to any of our clients who are in financial stress. Please contact us if you would like to arrange this with Simone.
In the event you experience a change to your financial circumstances and feel you may find it difficult to meet your loan payments, please contact us for a discussion about your options.