How does pausing my home loan work?
For home loan customers impacted by COVID-19 and the current economic uncertainty, ME has introduced a repayment pause for home loan customers. Customers do not need to make repayments for up to six months, with a review at three months. Interest and charges will continue to accrue during the repayment pause.

Will I accrue interest during the pause?
Yes, interest and charges are accrued during the repayment pause. Accrued interest will be capitalised and added to your home loan balance at the end of the pause and your repayments will be adjusted. These future payments may be higher.

Why do interest and charges still get accrued and not cancelled?
As a business, completely forgoing all home loan repayments for three months is unsustainable. By doing a pause, we are able to help you during an unprecedented difficult period – and you can chip away extra repayments once things are back to normal and you're in a better financial position to do so.

What does the three month review involve?
We will contact customers after three months to see how you are going, and if you need to continue with a repayment pause.

Does a repayment pause affect my credit rating?
Every customer’s situation will be different, and it’s best to talk to our team about how this may affect you and your credit rating.

Does it matter what type of home loan I have?
This will apply to all home loans except construction loans. We will review construction loans on a case-by-case basis due to the complication around with ongoing funding.

Does this apply to interest only loans, or loans for investment properties?
Yes, the repayment pause can apply to loans for investment properties and interest-only loans.

What do I need to do to start a repayment pause?
The easiest and quickest way to begin a home loan repayment pause is to click the link below to kick off the online process. After submitting the form, which should take you less than five minutes to fill out, there is no t further action required. You’ll receive a confirmation email from ME.

However if you’ve got a repayment due within the next 24 hours, it is best to call us on 13 15 63 (8am – 8pm Monday to Friday, 9am- 5pm Saturday AEST) to discuss a repayment pause.

Sign up for repayment pause

What if my situation changes for the better and I want to resume my repayments?
You can live chat with one of our experts, or log into your internet banking and send us a message. Or give us a call on 13 15 63 (8am – 8pm Monday to Friday, 9am- 5pm Saturday AEST) to discuss resuming your repayments.

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