We understand that unexpected life events can happen, which may sometimes make it difficult to maintain your loan repayments. If you have been affected by COVID-19 or are concerned about your financial position, please contact us for financial hardship assistance.
Our Financial Assistant Team will work in partnership with you to explore payment options which are specifically designed to cater for your change in circumstances.
Financial hardship assistance can be an effective means to get through a short-term period of financial difficulty.
However, it is important to understand the longer-term impacts of financial hardship assistance before you decide to proceed with any arrangement. For example, Hardship assistance does not mean these payments will be ‘waived’. Interest will continue to accrue on your loan meaning that your principal mortgage balance will increase. The cost of the deferred payments and interest accrued will then be spread across the remaining term of your mortgage - this means that your regular repayments will be higher.
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