Unforeseen Financial Hardship

If you are in financial difficulty it is important that you don’t ignore the problem.  If you’re having problems meeting your repayments or think that you may experience difficulty doing so in the near future, contact us to see if we can help. If you leave it too long you may not be eligible to qualify.

You are able to apply for financial assistance if you experience unforeseen problems such as:

  • illness
  • loss of employment
  • the end of a relationship 
  • natural disaster
  • other reasonable cause

You must reasonably expect that a change to your lending agreement would enable you to meet your obligations going forward and not put you in further hardship. We will consider this as part of your application.

Once an application has been made in writing, we will go through the details you have given, and get in touch with any questions for additional information that we may need. We will also write and let you know the outcome of your application.

Please note that there are limits on when and how often you can make a financial hardship application.

How we can help

Some of the things we may be able to offer are:

  • An extension of the loan term
  • A postponement of repayments for a specified period
  • Extension of both the loan term and postponement of repayments for a specified period.

At Westpac we have a team of specialists that will take the time to listen and understand your situation. Information we will need to know to assess your application includes:

  • How your circumstances have changed
  • What changes you expect in your circumstances, when and for how long
  • What steps you could take to address this situation yourself (e.g. do you have an insurance policy which you could make a claim against?)
  • Your current financial position is

If you’ve got questions about this process, you can find out more in our frequently asked questions section.

Apply for financial assistance due to unforeseen hardship

For more information on this process please contact our Customer Care team on 0800 402 802, between 8am and 5.30pm Monday to Friday.

You can apply for financial assistance for unforeseen hardship online by completing the online Financial Hardship Application form. Your online application can be completed anytime. It is important you include contact details and other required information.

View online Financial Hardship Application form

Alternatively, you can also apply by downloading the PDF Financial Hardship Application form and filling it in. This application form can be returned to your local Westpac branch, posted to PO Box 934, Shortland Street, Auckland 1140,  or emailed to financial_solutions@westpac.co.nz

Download PDF Financial Hardship Application form

Information for Budget Advisors and Authorised Third Parties

If you are a budget advisor or third party you are also able to complete the Financial Hardship Application form.  For further information please call our Customer Care team between 8am and 5.30pm on 0800 402 802, Monday to Friday.