A home loan feature that supports a growing family
Welcoming a new family member to the family can place a pretty big strain on finances. Incomes decrease for a period of time, medical expenses increase and daily living expenses change.
At Bank Australia we don’t want this to interfere with the excitement of this precious occasion – we want to support families through this time.
To do this, we offer you the option of pausing your home loan repayments to give you some breathing space. This allows you to take a break from payments for three months, or halve them for six.
Whether you know you are welcoming a new family member or it’s a possibility way into the future, it’s a feature worth considering if you’re thinking of taking out a home loan with us or if you already have one.
A couple of key criteria you’ll need to meet to eligible for the pause include:
- You need to be an owner-occupier
- Your loan has to have been established with Bank Australia for at least 12 months
You can check out the full terms and conditions below.