If due to COVID-19 you are unable to meet your home loan repayments there are several options available to you.
For eligible customers this includes:
- accessing your redraw facility;
- deferring your home loan repayments if you are in advance in your repayments;
- reducing your repayments to the minimum monthly amount if you’re currently paying extra; or
- applying for our lending relief package.
Eligible P&N members requiring assistance with home loan repayments will be able to apply for a repayment pause on their home loan for up to six months (subject to review at three months). Over the six months that the repayments are paused interest will be capitalised. After the payment pause, scheduled payments will be recalculated which means minimum monthly repayments will need to be increased to repay the loan within the original repayment term.
You can apply online for our lending relief package or contact us on 13 25 77 for further information.
The National Debt Helpline has released a free COVID-19 Financial Survival Guide which may provide further assistance.