Major bank offers home loan relief to bushfire victims

by Miklos Bolza15 Feb 2017
The Australia and New Zealand Banking Group (ANZ) has announced a relief package for customers impacted by the recent New South Wales bushfires that includes suspended mortgage repayments for mortgage holders.

“It’s devastating to see the impact of the bushfires over the weekend with authorities fighting over 200 fires around NSW,” said Stuart Hancock, the head of regional business banking in NSW.

“This is a very difficult time for our staff and customers in NSW who have lost livestock and property. We hope this assistance package provides them with the financial relief and support they need.”

ANZ will suspend repayments on mortgages for three months, a bank spokesperson told Australian Broker. In exceptional circumstances, this period may be extended.

“On mortgages, interest still accrues during the three month period. However we waive any late payment fees,” she said.

The relief package also eliminates fees associated with restructuring business loans, early access to term deposits, replacing damaged credit/EFTPOS terminals, and life insurance premiums for a limited time.

Related stories:

Speciality lender waives residential application fee

ANZ dumps accelerator payments

Collaboration to boost broker client retention