THE BANKS & LENDERS ARE THERE TO HELP YOU
Firstly I hope that you are safe and well.
We are open for business and will do our best to help you with information needed to help you through these uncertain times. We have made a decision not to physically see clients – this is hard as it is something that we have always done but we are trying to be Socially Responsible and contribute to the end of the crisis. We are working from the office at present however like most we are not sure for how long. We will stay open as long as possible and contingencies have been put in place to work remotely so that we can look after your finance needs if it is that we do need to close.
How can we work for you without being able to meet?
The simple answer is technology and Australia Post. Most of our work can be done over the phone or via email and we are looking into Facebook ‘facetime’, zoom and other forms of being able to communicate. I know that for a lot of you this will be a major inconvenience but we do need to find other ways to do things in the short-term. The important thing is that we will continue to work for you, it may be just a little different.
We are receiving numerous calls from customers with queries to existing and new loans and this may cause a delay in getting back to you however we will get back to you and quickly as possible.
With information changing on a daily basis regarding the Covid-19 Virus and the Governments position, the information that I provide today may be different tomorrow but we will do our best to keep you information and as up to date as possible.
Firstly, the banks and lenders are there to help. Most have made a commitment to ‘pause’ your home loan, finance and business loans repayments for up to 6-months. We are still in the process of gathering information from all lenders so that we can on forward to you how this needs to be done and the impact of this when things return to normal. As you can imagine, the banks and lenders are being inundated with queries at present and getting through to them difficult so please be patient. Everyone’s is doing their best. We would ideally like to manage this for you however for privacy reasons not all lenders will allow us to do this on your behalf and you will need to contact the bank directly via either phone or email. For your specific lender please email Adrian Waller with your queries and how you want your lender to assist so we can provide you with information on the simplest way this can be done
How we can help?
We are still here and working for you. We cannot have an impact on your household income however we can help you get through this period in a number of ways.
- Provide information and help if you do need to defer payments – there have been many emails received from all lenders advising of their preparedness to assist with current loan repayments
- Explore your loan options – there are some terrific fixed rates on offer at the moment
- Refinance to get a better interest rate on your loan with the idea of reducing repayments in increasing the amount of cash available for everyday necessities – some are offering ‘cashbacks as an incentive to move lender
Don’t wait until it’s too late
If you are looking to change your home loan now is the time to do this. If your employment situation changes or you need to defer payments on house or business lending you won’t be able to this after things turn for the worse or you have to miss payments, so evaluate your current situation. Have you been considering consolidating debts? Or refinancing to a better rate? contact us if you need to discuss or would like to do something.
Should I fix
The recent interest rate cuts are primarily centred around fixed interest rates. These rates are attractive though it is important to ensure that these are appropriate for your circumstances. Fixing your loan will give you certainty around your repayments – and may even reduce your monthly payment – however there are a number of limitations including –
– You cannot have an offset account attached to this loan
– Limits the additional amount that can be paid on the loan each year
A number of you may be a Small Business and we have provided you with an attachment that lists the Governments current Stimulus relief package – these are changing however maybe of some benefit.
If you are a small business, use the time to make sure that you come back bigger and better. Work on ways that you can improve your business by reducing costs, improving efficiency and generally finding a better way to do things.
We will keep providing you with the best information that we have available.