Considerations to get you through COVID-19 impacts

With the challenging times we are facing with the unknown outcomes of COVID -19, we know clients are worrying about how they can manage over the next 3-6 months, we are here to support you so please do get in touch.

If you have financial concerns consider:

• Speaking with us if you are worried about your ability to repay your loan over the next 3-6 months
• Examining what equity is held in your property. This can be done by getting a valuation completed
• Looking to reduce your interest rate or consider where appropriate interest only strategies for the short term will reduce cash flow strain via refinancing or renegotiating with your current bank.
• Utilising or setting up offset accounts to reduce interest costs and store any excess funds.
• Understanding the redraw facilities and what is or is not available. What other access to credit do you have?
• Possibly reducing your repayments back to the minimum if you are paying more than required.
• Understanding your rights regarding opportunities such as 'repayment holidays' when in times of distress or default.
• Understanding what may be available through your super with regards to hardship or even accessing a portion of your super balance.
• Starting a budget. There is a heap of ways to work out where your daily and monthly spend is going. Time to consider your spending habits and are they wise options for you right now!

Call us on 03 9988 6170 or email reception@enhancedgroup.com.au