How does financial hardship assistance actually work?

Most financial hardship assistance is temporary, for example, a short repayment holiday or reduced repayment period to help while you’re experiencing financial difficulty. The hardship process includes the assistance period and a minimum six month support period to make sure you’re back on track.

If you qualify for financial hardship, assistance is determined case by case and it could cover all lending you have with Westpac or only the account(s) you need support with.

These solutions may lead to extra costs over the full term of your loan, because changing your repayments affects how much interest you pay overall. To help you make the choice that best fits your situation, our Financial Solutions team will explain any additional costs that may apply when you enter hardship assistance. They’re available on 0800 772 771 weekdays 8am to 5pm.