With ongoing cost-of-living pressures and the possibility of further interest rate increases, many borrowers are feeling the impact of higher repayments.
For some, this is being driven by changes in circumstances — such as reduced income, parental leave, illness, or unexpected expenses.
Missing or delaying even one repayment can affect your credit profile and limit your options down the track. Addressing the issue sooner generally leads to better outcomes.
Depending on your circumstances, lenders may offer temporary relief options such as:
- switching to interest-only repayments,
- short-term repayment pauses, or
- restructuring your loan.
These measures can help ease cash flow pressure while you regain stability. Every lender approaches this differently, so understanding your options early is key. I can also assess the rate you are currently paying on your loan and advise whether it is competitive in the current market.
So if your circumstances have changed or you’re finding repayments more difficult in the current economic environment, please give me a call on (02) 9908 9888 to discuss a plan.