Repayment holidays: How do they work?

Discussion in 'Loans & Mortgage Brokers' started by spludgey, 20th Mar, 2020.

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  1. berten

    berten Well-Known Member

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    He mentioned ANZ
     
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  2. Barny

    Barny Well-Known Member

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    Anz
     
  3. Alex P Keaton

    Alex P Keaton Well-Known Member

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    Wow. Really!?

    I have heard they will only help people who have lost their job or on reduced income.

    Did you need to jump through hoops and give them all this paperwork like I was told to!? Or did they just do it for you over the phone?
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    ANZ have announced interest will be capitalised.
     
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  5. Barny

    Barny Well-Known Member

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    She lost her job and called over the phone, I'm waiting to see her paperwork as I questioned that she may have mistaken the interest accruing.
     
  6. Alex P Keaton

    Alex P Keaton Well-Known Member

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    Hi. Oh yes. That’s what I’ve since learned. It’s for those in dire straights.
     
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  7. Barny

    Barny Well-Known Member

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  8. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Many lenders (CBA, Wpac +) have indicated each customer on a deferral basis will be credited $45. This is the value of the capitalised loan they say.
    For investors loans this will reduce the interest deduction (ie it is assessable)
     
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