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If you are currently on a COVID- 19 Home Loan support package, your deferral period may be ending soon. To assist with managing next steps during this challenging time, we have outlined some options for you to consider below.

Return to repayments

If you are able to return to making repayments when your support package ends, please let us know by signing into online banking and completing the online form.

This form will be available to and need to be completed by the person who originally requested the support package.

If you’re not registered for online banking, register now


Note: If you do nothing your repayments will restart once your support package ends

Visit the online form


Consider returning to reduced repayments

If you have a variable rate loan, you may be able to change your loan which may reduce your repayments (please note this is not applicable if you have a WBC Equity Access loan.

For example, you could consider either or both of the following options:

  • switch to a Fixed Rate that is lower than your current variable rate Find out more
  • switch to Interest Only repayments for 12 months - this will temporarily reduce your repayments as you will only be paying the interest portion of your repayment. Please note your loan repayments will increase at the end of the interest only period. Find out more
     

If you would like to discuss these options with one of our Home Loan Specialists, please complete the online form in the COVID-19 Support Hub and we’ll contact you. 

Visit the online form


Request more support

Other Options

A further repayment deferral period may be possible for some customers, following a review of your current circumstances.  

Please complete the online form in the COVID-19 Support Hub and we’ll contact you to help with options that may be available to you.

Note: If you do nothing your repayments will restart once your support package ends.  

Visit the online form


Where do I find the online form?

By signing into online banking via this direct link or open the Westpac Live/Online Banking App. You will see a summary of your support package, some of which may have an Action required by date. Clicking on the summary will reveal the details of the package as well as a button to Take action. By clicking on the Take action button, you will be able to explore your options for this package.


If you have any other packages, you will receive communications with instructions on how to take action closer to their end date. 
 

Image of mobile phone screen showing example of how to view and manage COVID-19 Support Packages
Image of mobile phone screen showing example of how to view and manage COVID-19 Support Packages

You can also return to the online form at any time for updates and status checks by signing into online banking and clicking the COVD-19 support hub link on your banking dashboard.
 

Image of mobile phone screen showing example of how to view and manage COVID-19 Support Packages
Image of mobile phone screen showing example of how to view and manage COVID-19 Support Packages

You will need to be registered for online banking

To check the status of your support package and manage next steps, you will need to be registered for online banking and sign into your account.

Register for online banking


Covid – 19 Home Loans Deferral Extension Customer Q&As

  • Sign in with your online banking details.
  • Once you have signed in, your support packages may have an action required by date, allowing you to click the take action button to request further assistance.
  • Please note the request form will be available to and must be completed by the person who originally requested the support package. 
Image of mobile phone screen showing example of how to view and manage COVID-19 Support Packages

If you do not take action by this date, your repayments will automatically restart as outlined in the letter we sent you recently.

If you do not have Online Banking, you can register today at westpac.com.au/register

If you do not register, you will need to contact Customer Assist to discuss options available to you. 

No. No fee is payable.

You can check your current interest rate, your repayment amount and due date in Westpac Live online banking

We recommend you schedule a manual monthly payment today to make sure it is processed in time before the due date. You can do this via Westpac Live Online Banking go to ‘Transfer’ and follow the prompts.

After that, you can set up a new direct debit for any subsequent repayments by completing the Home Loan Direct Debit form (links below) and emailing it back to us.

If you have a variable rate loan, you may be able to change your loan which may reduce your repayments (please note this is not applicable if you have a WBC Equity Access loan).

For example, you could consider either or both of the following options:

  • switch to a Fixed Rate that is lower than your current variable rate. Find out more;
  • switch to Interest Only repayments for 12 months - this will temporarily reduce your repayments as you will only be paying the interest portion of your repayment. Please note your loan repayments will increase at the end of the interest only period. Find out more;

If you would like to discuss these options with one of our Home Loan Specialists, please complete the online form in the COVID-19 Support Hub and we’ll contact you.

Home Loan customers may receive a one-off payment to help offset the interest charged on interest which accrued during their deferral period. Payments will be processed on a monthly basis once you have finished your package. The one-off payment amount will depend on a number of factors including your loan balance and any applicable offset account balance. The payment will be made directly into your home loan or transaction account. You should seek independent tax advice to determine the tax implications specific to your circumstances in relation to this one-off payment.

Getting back on your feet financially

Explore our resources and tools aimed at helping you recover and get back on track after tough times.

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