You Have Options. We Can Help
A message to you, the reader.
The Loan Market team and I trust you’re holding up well in lockdown, keeping healthy and entertained. This may be our new normal for a while, so it’s important to spend time doing things that bring you joy. Maybe you can finally clean out the kitchen or learn that language you’ve always wanted to. Whatever it is, make it work for you.
You have options. We can help.
We’ve spent hours each day reaching out to clients, letting them know of the options and checking in to make sure the track they’re currently on is working. Sometimes, just an are you OK brings to life everything in that person’s situation.
It’s an uncertain time, and we’re here to help you navigate this complicated landscape. The banks now have good systems and processes in place, which means we can help you through any support you need around your mortgage.
We can discuss the options for your individual situation, whether you want to go to Interest Only or take a Mortgage Repayment Deferment. It’s important to remember that you don’t have to leap into any form of mortgage relief straight away. If possible, you are best to maintain your current payment levels.
Here is a great mortgage repayment deferment calculator that will help you understand the impact of taking a deferment on your mortgage balance. You can pop in your current mortgage information and it will show you how much your mortgage will grow by if you take this option.
Are you self-employed?
If you have a commercial lease in place for office space, I encourage you to review your lease agreement. In many cases, there may be a clause which provides rental relief during any period where the premises are unable to be used in the normal course of business due to an emergency imposed by a competent authority. Check out your lease and if needed get legal advice on this.
Some Loan Market clients have already received a waiver of rent payments for four weeks (current shutdown duration) on this basis.
Loan Market has also been fielding several queries as to whether we can access Government Backed Business Loans on your behalf. Unfortunately, as these loans are largely underwritten by the government, they can only be accessed via the respective banks directly.
Click here for more information. You will need to go to your specific bank’s website to access application details.
We hope you had the best Easter you could.
While we remain in lockdown, the world continues in orbit, this saw Easter roll around unabated. Take some time to celebrate those periods and all it means to you. Make it fun for the family and your close ones. Reflect on its importance. At a time like this, I find this puts what we are going through into perspective.
Loan Market is here to act on your behalf and find the best loans and financial options our partners and the market can provide. Call us any time if you just want to talk it through.