VIC bushfires: brokers narrowly escape, lenders offer assistance

Mr Collins told The Adviser that Romsey was initially threatened by a bushfire from the Sunbury area. A change of wind saved Romsey from that fire, but then put it in the path of the Mickleham fire.

He said he recently handled a mortgage for a client in Wunghnu, just north of Shepparton. The loan settled on February 5, only days before a bushfire came very close to the house. “We made sure she had insurance,” he said.

Mr Collins said his business had been largely unaffected because he spent most of his time on the road.

“I only had to put off one appointment, because they were located in an area that had been under threat on Sunday. That was going to be a Monday night appointment, so we rescheduled it.”

He said he had made plans to evacuate if the bushfires returned during the summer, but that he didn’t expect that would happen.

The Aussie Home Loans office in nearby Craigieburn also had a narrow escape.

Principal Jenny Pulford said the worst day was on Wednesday when the town became full of smoke from the fire at Mickleham, less than 10 kilometres away.

She told The Adviser that some clients had come close to losing their homes, but that her business had been unaffected.

Meanwhile, major lenders have come out in support of many bushfire victims.

ANZ said victims could temporarily extend their lending limits, reduce or suspend repayments and apply for new home loans without incurring the usual fees.

The Commonwealth Bank said it would consider granting additional loans, increasing credit limits, and waiving fees and charges for victims who need to reorganise their finances.

NAB relief measures include suspending home loan repayments, waiving home loan fees and charges, and offering support to restructure other existing bank facilities.