COVID-19 Hardship Policies

Your home loan is probably one of the biggest purchases in your life. On account of the current circumstances, some banks have dropped their interest rates. This might be a good opportunity for you to do a review of your existing loan.

During a crisis, it is important to talk to the people that you trust. 

Keeping up to date with all the policy changes can be both confusing as well as time-consuming. EBM Finance has compiled the latest COVID-19 Hardship Policies to date to make it easier for you to access the relevant information. Below is a list of policies for our mortgage clients.

OrganisationPolicy
AMPHome loan repayments can be paused for 3 months initially, with the possibility to extend for a further 3 months. The total deferral period is 6 months, which includes a 3-months checkpoint review.
ANZHome loan repayments can be paused for 6 months, which will include a 3-months check.
BankwestHome loan repayments can be paused for 6 months.
Bendigo Bank Home loan repayments can be paused for 6 months.
BOQHome loan repayments can be paused for 3 months. Clients also have the option to switch to interest only repayments for up to 12 months.
Commonwealth Bank Home loan repayments can be paused for 6 months.
Me Bank Home loan repayments can be paused for 6 months, which will include a 3-months checkpoint review.
NAB Home loan repayments can be paused for 6 months, which will include a 3-months checkpoint review.
P&N Bank Home loan repayments can be paused for 6 months, which will include a 3-months checkpoint review.
St. George Home loan repayments can be paused for 3 months initially, with the possibility to extend for a further 3 months. The total deferral period is 6 months, which includes a 3-months review.
Suncorp Bank Home loan repayments can be paused for 3 months initially, with the possibility to extend for a further 3 months. The total deferral period is 6 months, which includes a 3-months review.
WestpacHome loan repayments can be paused for 3 months initially, with the possibility to extend for a further 3 months. The total deferral period is 6 months, which includes a 3-months review.
ING BankingHome loan or personal loan repayments can be paused for 3 months initially, with the possibility to extend for a further 3 months on request.
Heritage BankHome loan repayments can be paused for 6 months.
MacquarieHome loan repayments can be paused for 6 months.

We are here to help.

Should you require a review of your own finance arrangements and loan facilities, please contact Elliott Watkins from EBM Finance on 0410 144 574 or elliottw@ebmfinance.com.au to discuss your options.