Its best that you speak to a financial counsellor to help you work out what change to your repayments will suit you best. The bank will not accept your hardship notice unless you can show that you will be able to repay your home loan if the changes are made. How much you can afford to repay & how long the hardship is likely to last.If you are a vulnerable customer (for example, because you are elderly or have a disability).The bank is unlikely to accept your request unless you have good reasons (for example, you lost your job or have suffered a serious illness) Why you need a change to your home loan.How you want to change your home loan (for example, extending the loan term and reducing each payment or postponing payment s for a period). ![]() When you give your hardship notice you should include: If you make your hardship notice over the phone you should make notes of what was said. Its best that you give your hardship notice in writing to avoid misunderstanding and so you have a record. ![]() ![]() This request is called “ a hardship notice ”. You can simply ring the number on the default notice or write to your bank and ask for a change to your home loan repayments. How can I ask for a change to my home loan repayments?
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