COVID-19 effects on Finance and what this means for YOU + Me
First up, let us begin by sharing our deepest, heartfelt sympathies if you’re currently experiencing stress and financial disruption due to the Coronavirus (COVID-19) outbreak. No-one could have foreseen this coming… a pandemic that’s affecting the entire world. It’s a *touch wood* once-in-a-lifetime experience and I know that, at least in the time that I have been here - its a first!
As a small business, we have been affected by lenders pulled back on guidelines, pulling out of lending to certain employment industries, and restricting low doc facilities to our business clients. We are taking our own precautions as a family to stay afloat. We both wish we could give each of you a big hug right now.
And just as we couldn’t in our wildest dreams have predicted an event like this, sadly too the non-existent timeframe for getting this virus under control leaves us hankering for an equally non-existent crystal ball.
However - A number of measures have been put in place to help those who are impacted directly or indirectly by COVID-19.
The development of COVID-19 (aka Coronavirus) as a global pandemic has brought with it a wave of social panic, employment disruption and financial market volatility. While some people are going overboard on toilet paper purchases, others are preparing for the possibility of self-isolation, and the myriad financial complications that could accompany this.
COVID-19 FINANCIAL RELIEF
To support customers through this time of uncertainty, Australian banks are stepping up with more clearly defined financial relief strategies.
The financial wellbeing of our customers is also a priority and we know that unexpected events can happen – which may make it difficult for some people to maintain their loan repayments. If any of our customers with are affected we encourage you to get in touch with us! If you are experiencing financial difficulty making your loan repayments please contact your lender direct to see what assistance they may have in place for you.
Some lenders have provided assistance such as:
payment holidays;
facility reviews; and
mental health support
If you are unsure of who your lender is please send me an email nadia@assetloanestablishment.com.au and I will be able to accurately provide you with your loan details and the contact phone number of your lender.
Our clients (you) are very important to our ongoing business and working together where we can is highly important to the core values of our business.
WE CAN HELP EASE CORONAVIRUS FINANCIAL PRESSURE
Other ways we can help, and other ways you can help support our business during these hard times.
My advice if you are not experiencing hardship - take advantage of the ridiculously low Home Loan rates at the moment. With the RBA recently announcing another rate drop having seen the lowest rate drop in history.
Rates are now as low as 2.29% won’t be this low again I’m actually going to fix my own loan for 1 year at this price as we will save about $400 per month!
We can assist you with your refinance - so please get in touch!
We can:
Review mortgage interest rates
Review debt consolidation needs - Combine Credit Card Debt & Personal loans into 1 easy to manage repayment
Review your existing vehicle finance contracts and see where we can refinance to reduce your repayments and save you $$$ on interest!
PLEASE continue to support our business as we will continue to support the financial well-being of YOU.
Our hearts and thoughts are with you and we hope you can remain positive knowing that we are all in this together. We hope that you and your families stay safe and healthy as Australia navigates COVID-19.
With love,
Nadia + Rex