Lenders roll out emergency flood assistance, support packages for affected communities

Lenders roll out emergency flood assistance, support packages for affected communities

Lender flood assistance packages NSW, QLD
Meredith Williams
Meredith Williams

A number of home loan lenders have announced special measures and emergency packages to assist those affected by the floods across NSW and QLD.

Australian Banking Association CEO Anna Bligh says banks have a range of measures in place.

“The message from banks is clear: don’t tough it out on your own, your bank is ready to help”.

“Once the cleanup begins, it’s important for people to know that they can talk to their bank to seek assistance”, Ms Bligh said.

A range of support can be offered, including:

  • A deferral of scheduled loan repayments
  • Waiving fees and charges, including break costs on early access to term deposits
  • Debt consolidation to help make repayments more manageable
  • Restructuring existing loans free of the usual establishment fees
  • Deferring interest payments on a case-by-case basis
  • Offering additional finance to help cover cash flow shortages
  • Deferring upcoming credit card payments
  • Increasing emergency credit card limits

We have compiled a list of lenders, contact numbers and links to their websites to help you get in touch quickly to get the support you need.

As a company who is passionate about helping people achieve their financial goals through home ownership, we have been moved by the enormous loss faced by many of our community due to the floods.

If you want to speak to one of our brokers, we are here to help however we can.

Meredith Williams
Meredith Williams

* Two year fixed rate, owner occupier, P&I package loan with a maximum LVR of 70% and a loan amount >=$150k. Lender rates and products may change. We cannot suggest you remain in or switch to any loan until we complete our assessment. Fees and charges apply. ^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rate is calculated on the basis of a loan of $150,000 over a term of 25 years. ± All loan applications are subject to uno assessment and lender approval. uno does not guarantee that it will be able to find a customer a better loan than the one they currently have or to save them money.