What assistance is available while I'm on maternity leave?
Whether you’re aiming to take a few weeks or several months off work for the arrival of your new baby, it’s worth thinking about how you will manage your home loan.
If you’ve had your home loan for some time, you may be able to take a repayment holiday, which gives you a break from loan repayments, or at least make reduced repayments, for a set period. Strict conditions can apply and these vary between lenders so it could be an option to talk through with your Aussie Broker.
Or you may consider making extra repayments on your home loan before you head off on maternity leave allowing you to build a buffer of funds.
It makes sense to review your home loan before you take time out for your baby to be sure you still have the loan that’s right for you. Your Aussie Broker can assess whether you could secure a more competitive rate, or if switching to a fixed rate home loan is the right move.
Talk to your Aussie Broker today to see what’s involved in applying for a home loan when you’re expecting a baby, or managing your home loan while you’re on maternity leave.