Financial help for flood victims
One of the country’s largest mortgage brokers, Mortgage Choice, has urged borrowers impacted by flooding to seek financial help.
"The flooding situation is tragic. Meeting their mortgage repayments shouldn't be another problem people have to worry about right now," said Mortgage Choice spokesperson Kristy Sheppard.
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Many lenders are already offering extra services for flood-affected customers, she said.
These include suspending repayments on mortgages, other loans and credit cards for up to three months, waiving fees for business loan restructuring, reviewing credit card instalments and considering requests for emergency credit limit increases.
"If you are worried about not being able to make repayments or need any advice on how to improve your financial situation, contact your lender and the financial experts around you as soon as possible so they can get the ball rolling on making life a little easier."
Meanwhile, Mortgage Choice has also established a fund to help provide financial support to the Queensland and Northern New South Wales flood victims.
The brokerage is currently collecting donations from its staff and franchise network to send off as a collective payment to the Premier’s Flood Relief Appeal.
The company’s head office kicked off the donation appeal with a contribution of $5,000.
