Don’t say the ‘C’ word

I think everyone is a little over hearing it at the moment….

Given this is a difficult time for a lot of people for various reasons I wanted to touch base with some information that may be of assistance.

I was actually overseas in the UK on a 3 week holiday when I had to come home 10 days early and am now on day 7 of self isolation.  Work wise for me I am one of the lucky ones and it is business as usual – aside from the face to face meetings.

If you are one of the many people that has either had a downturn in income or lost your job and may come to experience financial hardship in relation to your home loan (OR any other loans that you have ie; car loans, personal loans or credit cards) – your first step will be to contact your bank!

Contact them and let them know what has happened and you will be eligible to go onto hardship for a period of up to 6 months.  This means that they will put a hold on your mortgage payments during that time.  Interest will still accumulate to your loan, but you will not be charged any default interest and it will not affect your credit file.  If however you do not contact them first and stop making payments, you will be charged default interest and it WILL affect your credit file making it difficult to fix anything down the track once we all come out of this.

If you are not sure what to do please reach out to me and I will be able to point you in the right direction.

On the other hand we have seen the banks reduce their interest rates, so if you are wanting to see about changing your rate (ie: onto a low fixed rate) or changing banks please feel free to contact me.  Here is a link to my recent facebook post which reiterates the information above.

There are many of us in situations that we have never been in before, whether that be out of work or isolated from friends and family and is a time when we need to have compassion for others.

Take care during this time, stay inside as much as possible, look after each other and hopefully I’ll be able to send more positive correspondence out soon.

Below are links and contact details for lenders that may be of assistance to you;

ANZ - click here      AMP - click here – 13 30 30;   Auswide Bank - click here – 1300 077 969

Bank West – 1300 134 107;  Bank of QLD – 1800 079 866

CBA – request via your NetBank;  Citibank - Financial Summary Form – upload here; 

Connective (advantedge) - click here

ING- click here – 1300 349 166    Macquarie - click here    ME Bank - click here – 13 15 63

NAB - click here      Pepper - click here – 1300 650 931     Virgin – 1800 701 997

St George - click here     Suncorp - click here     Westpac - click here

As always I am available to contact by email or on 0468 513 135

Your Finance Broker, Angie