The major banks and several non-major lenders have outlined how they are supporting those affected by the coronavirus pandemic and its economic impacts, including mortgage repayment relief and interest rate reductions.
All four major banks have announced they will support distressed home loan customers, enabling them to defer repayments for up to six months. The big four banks also announced other measures for personal and business customers, including interest rate reductions. This sometimes also applies to car loans, personal loans and other credit.
Several non-major lenders including Macquarie, Bendigo and Adelaide Bank, Suncorp, ME and Heritage Bank have also announced support packages for customers.
This can be a big help if needed, so use it if you need to. If you don’t need to, and/or you have enough cash reserves, consider using some of your cash reserves first.
If you find yourself impacted, you will need to speak directly to your lender to request hardship assistance, however, we are of course here to talk through any scenarios and offer whatever support and advice we can in regards to your finance and property strategy.
Here’s a list of relevant web links to the lenders hardship request forms and lender contact details for your easy reference (if you don’t see your lender listed here, please visit their website or reach out to us for assistance):
Adelaide Bank 1300 650 259
AMP 13 30 30
ANZ 1800 252 845
Bankwest 1300 769 173 or email firstname.lastname@example.org
BOQ 1800 079 866
CBA 13 22 21
Citibank 1800 300 470
ING 13 34 64
Liberty 13 11 33 or email email@example.com
Resimac 1300 793 741 or email firstname.lastname@example.org
Macquarie 1300 363 330
ME Bank 13 15 63
NAB 1300 683 106
Pepper Money 1800 356 383
Suncorp 13 11 55
St George complete the web form
Westpac 1800 067 497
We’re here to help
My team and I are here to help and support you during this difficult and confusing time. Our office is still fully operational and here to assist.
As you will know the Government has put a ban on gatherings of more than 2 people (unless part of the same household), to comply with this we will be conducting zoom/skype meetings with clients who wish to consolidate their debts or refinance to save many thousands a year.
On average we save our clients $10,000 a year just on interest rate alone. When you integrate all the strategic planning and advice, we provide you, the cost savings is many times this. Lenders are also permitting us to verify identity and sign loan documents electronically, so please do not feel your financial affairs need to come to a halt because of this. In fact, it removes much of the pain and makes the process more efficient.
Stay safe. Even if you’re isolated at home, you’re not alone – we are only a phone call away.