Financial Hardship COVID-19
If you need help, please let lending4u know. We are working with all lenders to provide clients with support. These options differ from lender to lender. If you or your business is affected by COVID-19 the following options for our clients.
- Reducing the rate: We can ask your current lender to reduce your interest rate. This may include taking advantage of some fixed rates as low as 2.29%
- Interest Only - Holiday: We can ask your current lender to convert the loan to Interest Only for 6 months
- Repayment - Holiday: We can ask your current lender to pause repayments for 6 months. Interest will be capitalised and monthly fees will continue
- Refinance to a cheaper rate: We can look at refinancing to a cheaper alternative
- Business Loan Concessions and Loans: Some lenders are offering small business customer repayment holidays and unsecured cashflow lending
Most lenders will allow you to make extra repayments or principal reductions during the holiday period, however this may not apply for fixed rates.