A note from our Mortage Advisor, Sanjeev Jangra.
It’s been an incredibly stressful few days for a lot of Kiwis, both those affected directly by flooding and damage, but also those concerned for families and friends. We hope all of you and your families are safe and well, especially as the challenging weather continues.
At Loan Market, our focus is on doing what we can to help our customers during these unsettling times as a result of the North Island floods. We acknowledge these events may have detrimental impacts on your home loan journey, but rest assured we will do what we can to support you.
Almost all of the banks now have the support options available to help you go through these challenging times, such as –
- Reduction of the loan repayment amount
- Changing to interest-only repayments
- Loan repayment deferral (no loan repayments for a short period of time)
- Temporary overdraft facility for an insurance payout and/or to cover urgent repair bills
- Temporary overdraft facility for Businesses to go back up and running
Lenders’ standard interest rates, credit criteria, terms, and conditions apply. The above options may or may not suit everyone and that’s where we can help you decide your next move. Please feel free to reach out if you need any assistance.