Hardship
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Hardship support and resources
Unexpected life events can have a devastating impact on home owners financial wellbeing, including their ability to meet home loan requirements.
Life changing events can include:
Sudden job loss
Reduced income
Illness
Domestic violence
Relationship breakdowns.
Information for home owners
If you're experiencing financial difficulties, please reach out to your lender directly. They will work with you to explore solutions that best suit your circumstances.
 Loss mitigation informationOur solutions are designed to provide short-term support to help you stay in your home while you navigate a difficult situation. |
 Debt recovery informationUnderstand how the remaining debt and lender claim process is managed if your home sells for less than your loan amount (shortfall). |
Information for lenders
If your customer is experiencing financial hardship, review the home owner information documents and contact our Loss Mitigation team, who can guide you through the available support options for your customers.
Loss mitigation information
Reporting requirements for lenders
Our Master Policy sets out our terms and conditions when dealing with arrears.
Any insured loan which is 60 days in arrears needs to be reported to us within 14 days of the end of each month using our arrears reporting template.
Arrears reporting templates can be found in The Hub.
Arrears reporting can be submitted to ArrearsAU@helia.com.au or submitted via Helia's Managed Secure File Transfer (MFT)
When life gets in the way of meeting home loan repayments
If there’s been a change in circumstances and the borrower is finding it difficult to make their home loan repayments, it’s likely they are experiencing financial hardship.
Hardship reporting can be found in The Hub
Hardship reporting can be submitted via our eLMI portal, HardshipsAU@helia.com.au or our Managed Secure File Transfer (MFT)
When it’s time to sell, with home owner still in control
For a borrower experiencing difficulties meeting their loan repayments, one of the hardest decisions they will have to make is to sell their home.
It is important they speak to their lender or broker and are encouraged to seek independent financial and/or legal advice before doing so to ensure they make the correct decision.
A borrower sale can be submitted to LossMitigationAU@helia.com.au
The lender has taken possession of the property
Mortgagee-in-possession (MIP) sales occur as a last resort when a borrowers financial difficulties are regrettably unable to be resolved and they have chosen not to sell their property themselves. As the lender is in possession of the property, we will work with the lender throughout the MIP sale process.
Information on MIP reporting requirements can be found in The Hub.
A MIP notification can be submitted to LossMitigationAU@helia.com.au
The property is sold with a shortfall incurred
A claim form must be completed by the lender and submitted with any ancillary information to the Claims Adjudication team for assessment before payment will be made.
A claim for the shortfall loss form can be found at The Hub
A claim can be submitted via our eLMI portal or to claimsAU@helia.com.au