Loan Market Go - COVID 19 Support
10 July 2020 - COVID-19 – option to extend existing loan deferrals for home loan customers
Advantedge will be offering the option to extend existing loan deferrals for home loan customers affected by COVID-19 by up to four months, ending no later than 31 March 2021.
While many homeowners have started their repayments again, we know there are some who are doing it tough and still need our help for a bit longer.
The extension will not be automatic and will be provided based on customers’ individual circumstances.
Please note that your trail commission won’t be impacted by the loan repayment deferral.
Getting in touch with your customers
Advantedge will contact customers who deferred their loan repayments to talk about their individual circumstances and any appropriate options for them including loan restructure, additional hardship assistance or further deferral. Contact may be via SMS, phone or letter.
We continue to encourage customers who can begin repayments to do so as soon as they can as this is in their best interests.
What you need to do
If you have a customer who has deferred their home loan repayment due to COVID-19, let them know that we will be in touch with them before they are due to restart their repayments. There is nothing they need to do now.
If your customer is experiencing hardship and would like to contact us please refer them to our Customer Care team for help, Monday to Friday from 8.00am to 7.30pm (AEST) on:
- phone - 1300 300 989
- email - email@example.com
If you have any questions, please contact your Business Development Manager or visit advantedge.com.au/covid-19-customer-support
If customers have paid ahead on their home loan, they may be able to access the additional money repaid using their available redraw. If customers are paying above their minimum contracted repayments, they may wish to lower their repayments.
Redraw can be accessed easily online via Starnet or by contacting Customer Care.
Home loan payments can be adjusted to their minimum contracted repayment online via Starnet or by contacting Customer Care.
Offering customers a repayment pause: customers seeking support during this challenging time may be eligible to pause their home loan repayments for a two to six-month period, regardless of whether or not they’ve paid ahead.
Customers will be able to apply for a repayment pause via an online form that will be available on www.advantedge.com.au within the next 48 hours. Please check in regularly to this site for the new form and for further updates on our COVID-19 support package.
Customers can also contact the Customer Support Team on 1300 155 426 from 8am to 6pm (AEDT) Monday to Friday or email Advantedge.firstname.lastname@example.org to find out if a repayment pause is the right option for them. Please be conscious that the Customer Support Team is currently experiencing high demand and longer than usual response times.
Customer Care team I 1300 300 989
Monday to Friday I 8am to 7:30pm (AEDT)