COVID-19 has certainly changed our way of life; from having to prioritise our health and well-being, to many of us working and living in isolation and the financial challenges for individuals, business and government across the world that have no precedent.
With the unsteadiness and emotion comes panic – look no further than toilet paper – and a greater need than ever before to make educated and sustainable decisions; especially around our health and wealth.
However, in such unprecedented times we are also seeing unprecedented support. Banks and lenders across Australia are offering a deferral of repayments from three to six months, credit files will not be affected if you apply or accept new financial arrangements due to hardship caused from COVID-19, early access to superannuation and a six-month moratorium on evictions to name but a few of the extensive new measures in place. With so much new information and much of it changing on a daily basis, it is hard to process it all and ensure that you are make the best decisions for YOUR personal circumstances.
In the coming days, we will be publishing some further information for property investors, landlords and those of you who may be thinking about deferring mortgage repayments as a start.
In the interim, we would welcome anyone to contact us direct to talk about your own particular circumstances or guide you through some of these industry changes.