As you are aware, at this point in time much of Australia is under Lockdown and facing heavy lifestyle restrictions.
In various shapes and forms this has put extreme financial pressure on many individuals and businesses, through no fault of their own.
We are hearing more and more that it is best to plan and discuss concerns with your Lender/Bank before any serious distress occurs.
In other words, "get on the front foot”.
It can be overwhelming but financial difficulty can be managed.
We’ve recently spent time assisting clients with financial concerns and we’ve found a very useful website.
The Australian Banking Association (ABA) brings together many support facilities while allowing you to access your specific bank’s Support and Relief packages.
Financial support to eligible customers may include:
The ability to defer mortgage and loan repayments
The option to make Interest Only repayments
Special arrangements in relation to arrears
Waiver of other fees and charges related to non-payment
Features also include:
Bank phone and email contacts
Financial Assistance Hub
Financial Difficulty Fact Sheet
If we can assist in any area, be sure to call or email.
General Advice Disclaimer
The information in this article is of a general nature and does not take into account your own financial objectives, circumstances or needs.
You should consider your own personal situation and requirements before making a decision.
If you have concerns or questions, please contact us.