COVID-19 FINANCIAL SUPPORT:

We encourage clients feeling concerned about how they will pay their mortgage to please consider the following questions, before we discuss the best home loan relief package for you. After this is all over, we will also help restructure your finances to get you back on track towards your financial goals.

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1) Has my income stopped or reduced to a point that I cannot maintain my current mortgage repayments?

If the answer is NO - we encourage you to stay calm, and continue paying your mortgage as usual - this will save you money in the long run.

If the answer is YES - then please read on for options you can discuss with your Velocity adviser.

2) Do I foresee that my income may stop or change soon, in relation to covid-19, that will impact my mortgage repayments?

If the answer is YES - you may want to consider the financial relief packages mentioned below, and feel educated on options should you require them.

If you’re feeling worried about this - please call your adviser to discuss options.

PLEASE REMEMBER:

Before your consider any changes to your current mortgage structure, please check you have applied for any relevant government grants or subsidies that may allow you to keep your mortgage repayments as they currently are. If you want to discuss this with your adviser please do give them a call or email.

4 HOME LOAN RELIEF OPTIONS AVAILABLE:

1)  Keep paying your loan as normal. This benefits you in the long run, as you pay less interest overall.

2)  Extend the length of your loan back to the original term. This reduces your weekly repayments.

3)  Move your loan to Interest Only, to reduce your weekly repayments.

4)  Stop making payments for up to 6 months - otherwise known as a ‘Mortgage Holiday’. (Please note this is the most expensive choice in the long run)

CALL US : We’re here to help choose the best option for you.

Your adviser will explain all the details, and how it affects you financially in both the short and long term.

FOR INFORMATION ON HOW TO APPLY, PLEASE CLICK ON YOUR BANKS LOGO:

Regardless of which bank your home loan is with, we are here to help and answer any questions you may have.

We will endeavor to answer your calls and emails as quickly as we can.