We understand that borrowers may experience financial hardship from time-to-time, whether it’s due to the pandemic, severe weather conditions, or other extenuating circumstances. We have a dedicated team of specialists who will work with you to determine the most suitable arrangement for you.

Common types of assistance we offer to help you through your situation include:

• Deferring your repayments or offering a temporary repayment break
• Converting your repayment type from principal and interest to interest only
• Reduced repayments
• Long term repayment arrangements
• Time to seek financial or counselling advice

Financial hardship assistance can be a blessing when you need to get through a period of financial difficulty.

However, is it very important to be aware of the longer-term impacts. For example, if you are eligible for a repayment break, interest will continue to accrue on your loan, meaning that your principal mortgage balance will increase. At the end of the period, your loan repayments will be recalculated on the new loan balance over the remaining term, meaning your regular repayments will increase.

As another example, if you temporarily switch to interest only repayments, your loan balance won’t change during the interest only period. However, as you have a shorter period to repay the balance of your loan, your repayments will be higher when you go back to normal.

It is very important to ensure you understand the longer-term impacts of financial assistance before proceeding.

To apply for hardship assistance, please contact us at 1800 111 001 or send us an email.

Due to a high volume of requests at present, you may experience longer than normal response times. During this time, we thank you for your patience and apologise for any inconvenience if our service levels do not meet your expectations.

In addition, would you please have provide the following information ready:

• Evidence of your current income e.g. recent payslips (PAYG), recent BAS (Self-employed) or Centrelink statements
• 3 months of your most recent transaction account statements

This information is necessary to allow us to understand your current financial position and determine an appropriate arrangement. You can return the requested information in the following ways:

• Email to financialassistance@resimac.com.au, or
• Post to PO Box H284, Australia Square, NSW, 1215

Once your application has been submitted, one of our team members will be in touch to find a solution that best suits your situation.

We recommend that you make whatever payments you can whilst we are considering your application and that you also propose realistic repayment plan details that will result in the eventual repayment of your loan.

If you need additional help, financial counselling services are available to help people who are experiencing financial difficulty. These are available in every state and territory and provide a free, independent and confidential service. ASIC’s Money Smart provides more information on these services. See: www.moneysmart.gov.au.

If you are dissatisfied with our response to your enquiry, you may make a complaint to our External Dispute Resolution Scheme, Australian Financial Complaints Authority (AFCA), which can be contacted on 1800 931 678 or info@afca.org.au.