St.George covers mortgage repayments, provides interest free & discounted loans to bushfire affected consumers and businesses

St.George has today announced additional support for customers and communities impacted by ongoing bushfires across Australia.

For St.George home loan customers who have lost their principal place of residence due to the bushfires, St.George will pay the customer’s mortgage repayments for one year (up to $1,000 per month).

The Bushfire Recovery Support Package, available for all affected Westpac Group customers, also includes interest free home loans for consumers who need to rebuild, low-interest loans for businesses, and an additional $2.5 million allocated for bushfire emergency cash grants taking the total to $3 million.

Together with existing measures in place, Westpac Group’s Bushfire Recovery Support Package will include the following:

Retail customers

  • For mortgage customers who have lost their principal place of residence due to the bushfires, St.George will cover the customer’s mortgage repayments for one year (up to $1,200 per month)
  • Interest-free home loans for customers to cover the gap between insurance payouts and rebuilding costs, approved subject to our credit criteria ($250 million allocation)
  • Up to $2,000 in emergency cash grants for customers whose properties have been destroyed or damaged by bushfires

Business customers

  • A grant of up to $15,000 to assist small businesses with the cost of refurbishing premises that have been destroyed during the bushfires
  • .83% three-year variable rate, low-interest rebuilding loans for business customers, up to $1 million individual loans ($1 billion allocation)
  • Up to $2,000 emergency cash grants for customers whose business premises have been destroyed or damaged by the bushfires
  • No foreclosures for three years on any farming businesses in the affected areas
  • Fast track credit approvals to provide short-term assistance

The community

  • An additional $2.5 million to provide emergency cash grants to customers in affected towns and regions, bringing the Westpac Group total available to $3 million
  • $500,000 donation to Financial Counselling Australia to provide financial counselling services to people in affected towns and regions to help them through the recovery and rebuild
  • Volunteer fire fighters nationally can access the Disaster Relief Package
  • Appointing new role CEO, Bushfire Recovery, to lead response. This includes mobile customer support teams for localised decision making.
  • Anyone who needs assistance or support should contact their local branch, Relationship Manager or call our St.George Assist on 1800 629 795 as soon as possible to discuss their circumstances.

These measures are in addition to more than $1 million already contributed to community groups such as The Salvation Army Emergency & Disaster Appeal, state-based volunteer services, and state bushfire appeals.

Key contact information for customers

For St.George Financial Assistance (and to access grants up to $2000):

/Public Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.