Each of the banks is committed to providing support to their clients during this difficult period.We would suggest personal and business clients:

1. request deferral of principal reductions; and
2. pause all asset finance repayments immediately; and
3. move home loans to interest only or pause P&I repayments; and
4. ensure covenants/conditions conversations are held for amendment / deferral / waiving of convenants.

*Note: the time to act on this is now to preserve flexibility moving forward. Remembering whilst we are planning for the worst and hoping for the best, we need to all be able to grow profitably on the other side (and plan for that now).