Coronavirus (COVID-19) resources and information for mortgage brokers

We have compiled information, lender policy and contact details, and support services available in response to the Coronavirus(COVID-19) for mortgage brokers.

Summary of Australian Government Stimulus Packages (Source: St George Bank, 31 Mar 2020)

 

Non-face to face client meetings and verifying identity (COVID-19)

In response to the rapid escalation of the Coronavirus (COVID-19) pandemic, lenders have revised their policies about a mortgage broker’s requirements when conducting non-face to face meetings and verifying customers’ identification.

Link to summary of lender non-face to face policies.

 

Connective Information for Mortgage Brokers

Summary – Resource Page

Lenders honouring Trail Commisions – List

Email Templates – more info here

Social Media Templates – more info here

Virtual Business Tools – click here

 

List of Lender Contacts with COVID-19 info and financial hardship details

Most lenders have offered a repayment holiday/suspension for up to 6 months for borrowers. Be aware that borrowers will continue to be charged interest during the repayment holiday/suspension period.

Spreadsheet – Lender Financial Hardship List (XLS worsheet)

Australian Banking Association – Fact Sheet

Connective List – https://support.connective.com.au/hc/en-us/articles/360045310633 

 

Other links:

Australia.gov.au is regularly updated to give you the latest news, updates, and advice from government agencies across Australia.

Business.gov.au provides information on financial assistance, eligibility, and timing for the new government support for Australian businesses.

The Treasury provides information on the Australian Government’s economic response to COVID-19 in Australia.

The Department of Health provides information on how the Australian Government is monitoring and responding to the outbreak, how you can help slow the spread of COIVID-19 in Australia and what do if you have symptoms.

Services Australia provides information on how to apply for government payments and services.

The Australian Tax Office provides information on assistance measures available, including, but not limited to, early release of superannuation, boosting cash flow for employers and increasing instant asset write-off.

 

Australian Government Fact Sheets

Overview of Australian Government’s Economic Response – Download

Treasury Resources Page: https://treasury.gov.au/coronavirus/resources

Fact Sheet – JobKeeper Payment – Supporting Business to Retain Jobs

Fact Sheet – JobKeeper Payment – Information for Employers

Fact Sheet – Income Support for Sole Traders

Fact Sheet – Cash-flow assistance for business

Fact Sheet – Income Support For Individuals

Fact Sheet – Assistance for households

Fact Sheet – Support for business investment

Fact Sheet – Assistance for severely affected regions

Fact Sheet – Temporary Early Access to Superannuation

NTAA Summary of Federal Government Stimulus Packages

Fact Sheet – Summary of Federal Government Stimulus Package (24 Mar 2020)

 

State Government Information

Victorian Government Initiatives

Fact Sheet – VIC Economic Survival Package

The Victorian Government has established a $500M hardship fund to assist Victorian businesses that were most severely impacted by the Coronavirus crisis. This fund has been called the Business Support Fund.

The State Government have now announced that this support will take the form of funding of $10,000 per business to small businesses that employ staff, have a turnover of more than $75,000, a payroll of less than $650,000 and have been subject to closure or are highly impacted by Victoria’s shutdown restrictions. Businesses will need to provide a copy of their most recent Business Activity Statement (BAS). Applications can be made through the link below:

https://businessvic.secure.force.com/PublicForm?id=bsf2020#no-back-button

VIC Tax Relief for Eligible Businesses: https://www.sro.vic.gov.au/coronavirus

 

New South Wales Government Initiatives

The NSW Government has announced a stimulus package that includes a number of initiatives for small business.  These can be viewed at this link:

https://www.service.nsw.gov.au/campaign/covid-19-help-small-businesses/fee-waivers-and-tax-assistance

There is a Business Concierge service that can help you if your business has been impacted by the NSW bushfires and/or COVID-19 (coronavirus).

The Business Concierge can:

  • Help you with regulation requirements
  • Identify licenses and permits your business needs
  • Deal with Councils & agencies
  • Connect you to support and advice

You can access the Business Concierge via this link: https://mybusiness.service.nsw.gov.au/concierge

 

 

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