We’re here to help

We understand that borrowers may experience financial hardship from time-to-time, whether it’s due to the recent severe weather conditions, the pandemic, or other extenuating circumstances.

We have a dedicated team of specialists who will work with you to determine the most suitable arrangement for you.

Common types of assistance we offer to help you through your situation include:
  • Deferring your repayments or offering a temporary repayment break
  • Converting your repayment types from principal and interest to interest only
  • Reduced repayments
  • Long term repayment arrangements
  • Time to seek financial or counselling advice

Should I apply for financial hardship assistance?

Financial hardship assistance can be a blessing when you need to get through a short period of financial difficulty.

However, is it very important to be aware of the longer-term impacts. For example, if you are eligible for a repayment break, interest will continue to accrue on your loan meaning that your principal mortgage balance will increase. At the end of the period your loan repayments will be recalculated on the new loan balance over the remaining term, meaning your regular repayments will increase.

 

As another example, if you temporarily switch to interest only repayments, your loan balance won’t change during the interest only period. However, as you have a shorter period to repay the balance of your loan, your repayments will be higher when you go back to normal.

 

It is very important to ensure you understand the longer-term impacts of financial assistance before proceeding.

Submit a hardship application

To apply for hardship assistance please complete and return the Statement of Financial Position form, including details of your requested arrangement. Download the form here. If you require any assistance completing the form, please do not hesitate to contact us at 1300 793 741 or send us an email.

Due to a high volume of requests at present, you may experience longer than normal response times. During this time, we thank you for your patience and apologise for any inconvenience if our service levels do not meet your expectations.

In addition, would you please provide the following information:
  • Evidence of your current income e.g. recent payslips (PAYG), recent BAS (Self-employed) or Centrelink statements
  • 3 months of your most recent transaction account statements

This information is necessary to allow us to understand your current financial position and determine an appropriate arrangement. You can return the requested information in the following ways:
  • Email to financialassistance@resimac.com.au, or
  • Post to PO Box H284, Australia Square, NSW, 1215

Once your application has been submitted, one of our team members will be in touch to find a solution that best suits your situation.


We recommend that you make whatever payments you can whilst we are considering your application and that you also propose realistic repayment plan details that will result in the eventual repayment of your loan.

Additional help

If you need additional help, financial counselling services help people who are in financial difficulty. These services are available in every state and territory and provide a free, independent and confidential service. ASIC’s Money Smart provides more information on these services. See: www.moneysmart.gov.au.

If you are dissatisfied with our response to your complaint, you may make a complaint to our External Dispute Resolution Scheme, Australian Financial Complaints Authority (AFCA), which can be contacted on 1800 931 678 or info@afca.org.au.
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