I’m struggling to make my mortgage repayments. What should I do?
Last updated 12 November 2020
If you’re not happy with the bank’s decision you can make a complaint to the Australian Financial Complaints Authority (AFCA). You should read our resource on resolving problems with your bank at AFCA before making your complaint.
You should get legal advice before taking this step.
The bank should contact you before the mortgage holiday ends. However, if you can’t afford to start making repayments again, you should contact the bank as soon as possible to try to negotiate an arrangement.
For example, you could ask the bank to extend the mortgage holiday for a few more months or ask if you can start with interest repayments only. The sooner you start to negotiate with the bank, the better your chances of finding a solution.
You might be eligible for free legal help from our lawyers. Making an online application is the quickest and best way to apply for free legal help.
Takes less than 8 minutes
(4.4 star rating)
This resource was last updated on 12 November 2020. This is legal information only and does not constitute legal advice. You should always contact a lawyer for advice specific to your situation. Please view our disclaimer for more information.