Aussie COVID-19 Customer FAQs

26 March 2020|20 minute read

 

We've covered a range of topics for different types of customers below. Use the links to jump to the answers relevant to you or scroll to find an answer to your question:

General FAQs

What steps can I take to look after my current situation?

During this unsettling period, it might be a good idea to review your home loan arrangements and make changes required to prepare for any challenges that may come up later.Steps you can take, might include:

  • Reducing your home loan repayments to the minimum contractual amount
  • Using your available redraw to repay your home loan
  • Speaking with an Aussie Broker to review your home loan and assess if a better loan option or structure might be available

What questions should I ask my Aussie Broker when reviewing my home loan?

There are many questions but here are some starters:

  • Are there savings to be made by switching to another loan with a lower or fixed rate, taking into account other fees and charges and cashback offers?
  • Am I better off lowering my current repayments and pocketing short-term savings or staying with my existing repayments and shortening the life of the loan? 
  • What should I consider if I enter a loan deferral arrangement?
  • What are the benefits of a Variable versus a Fixed home loan?
  • Should I switch from Principal and Interest to an Interest Only loan to save? 

I am currently in the process of buying a property or refinancing. Has anything changed with my pre-approval or application?

Currently, the government has put measures in place to prevent gatherings including open houses and indoor auctions, which may affect customers looking to purchase a property. It’s also important to follow guidelines on social distancing measures to keep yourself and others safe.

There may be changes to the application process or to your individual application and it’s best to contact your Aussie Broker over the phone, video chat or email to understand how these changes may affect you.

What if I can’t physically visit an Aussie Broker for an appointment?

Our Aussie Brokers are still hard at work providing home loan services for customers. Although they may not be able to assist in person, they’re available over the phone, via video chat or on email.

If you aren’t already in touch with an Aussie Broker, you can call us on 13 13 33 or submit an enquiry on our website and we’ll be able to connect you with an Aussie Broker from your local area. 

What happens if JPs and other ‘authorised people’ are not accessible to verify IDs

As a business, we’re working on providing more options to enable us to continue providing home loans services while maintaining the social distancing guidelines put in place by the Australian government.

Please get in touch with your Aussie Broker, who can provide you with more information about what actions you can take according to the policy of your lender. If you don’t have an Aussie Broker, contact us on 13 13 33 and we’ll connect you with a local Aussie Broker. 

I have mortgage insurance with Aussie. How should I activate it?

If you have an ALI Group Mortgage Protection Plan policy through Aussie, benefits may be payable in relation to COVID-19, subject to the terms and conditions of the policy and your individual circumstances. To discuss your policy or to make a claim, please call 1300 33 55 98.

I am currently in the processing of buying a property, has anything changed with my pre-approval?

The first step to take is to check in with your Aussie Broker. You don’t need to leave your home to get help - our brokers are available over the phone, by email or via a video chat, and they’ll be able to discuss your pre-approval based on your personal circumstances.

There are a few things to be mindful of during this time:

  • Health advice from the Australian Government, which limits public gatherings including open houses and auctions.
  • Changes to your personal circumstances that might affect your ability to proceed with a full home loan application. Each lender will have a different approach to assessing your loan application, so it’s best to work with your broker to understand what options will be available based on your scenario before going ahead with a purchase.

Are lenders going to change credit policies that will make it harder for borrowers in impacted industries like travel and entertainment to get a loan?

Aussie is working closely with lenders on our panel to understand any changes and ensure Aussie Brokers are armed with the information they need to help you with your home loan needs during this uncertain time.

Every customer’s situation is different, and we recommend speaking to your Aussie Broker to discuss your personal situation. While there may be changes to lender credit policies, we’d like you to know that we’re here to help, and your Aussie Broker can discuss what options are available to you so that you can move forward with your plans. If you don’t already have an Aussie Broker, please call us on 13 13 33 or request a free appointment online so we can help you get in touch with a broker from your local area. 

Are Aussie stores and broker still open for business?

While we may not be able to meet with you physically, we will continue to support you through your home loan journey virtually. Our Aussie stores remain closed at this time, but our dedicated Aussie Broker’s around the country are still available, via phone, email or video call, whatever works for your best. 

How does a virtual meeting with an Aussie Broker work?

You won’t need to leave your home to discuss your home loan with an Aussie Broker. We’ve made it easy for you to ‘meet’ with your broker virtually, whether it’s over a phone call, email or a video chat on your phone or computer. Contact your Aussie Broker to book an appointment and they’ll arrange a virtual meeting that works best for you.

Information for Aussie's Home Loan customers

I have experienced impacts to my health or income due to COVID-19. What assistance is available to me?

If you have an ALI Group Mortgage Protection Plan policy through Aussie, benefits may be payable in relation to COVID-19, subject to the terms and conditions of the policy and your individual circumstances. To discuss your policy or to make a claim, please call 1300 33 55 98.

Aussie Select

Contact number: 13 13 33

Aussie Activate

Contact number: 1800 184 260

Aussie Elevate

Contact number: 1300 650 259

Aussie IQ, Optimizer or other Aussie Home Loans

Customers with Macquarie funded Aussie loans requiring financial assistance can call 1300 363 330 to discuss options for ongoing support.