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Financially distressed Westpac customers will be offered a savings buffer to help pay for emergency funds – NEWS.com.au
Financially distressed Westpac customers will be offered a savings buffer to help pay for emergency funds
Homeowners facing financial distress will have the ability to access funds set aside from their mortgage repayments to assist in meeting hefty expenses such as dental or car repairs. Westpac has introduced an Australian first by creating a savings buffer for mortgage customers struggling to meet loan repayments and ongoing expenses at the same time.
The new measure, which has been welcomed by Financial Counselling Australia, will ensure people who have flagged hardship won’t need to turn to high…
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