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Happy couple reading on mobile phone on couch; image used for HSBC New Zealand Financial Hardship page

Financial Hardship

In times of financial or loan repayment difficulties due to unforeseen hardship, how can HSBC help?

We recognise that from time to time our customer’s financial situation may change due to unforeseen circumstances. If you are a HSBC customer facing potential hardship as a result of COVID-19, or other circumstances such as illness, injury, job loss, relationship break up, or other reasonable cause, we can offer up to six month repayment holiday as outlined in the process below.

If you think you’ll be unable to make your repayments to us in the near future, or have already missed a payment, please contact us as soon as possible. Contacting us early means we can discuss your specific circumstances and develop a plan to assist you.

The type of assistance we may be able to provide may vary depending on your individual circumstances and your type of home loan with the options available being:

  • Reducing your loan repayments, through an extension of your loan term, or conversion of your loan to interest only
  • A postponement of loan repayments during an agreed period. (Should you decide to apply for this option, the loan balance outstanding and future loan repayments will increase due to the interest accrued during the repayment postponement period being added to your loan(s) on expiry of the hardship period) or
  • Both of the above

What Information will I need to provide?

In your request please provide as much information as possible:

  • The reason for the request and how you want HSBC to assist you.
  • How long do you need assistance - based on when and how will you be in a position to continue normal re-payments.
  • Which loan account you would like to apply the relief on.
  • Whether you have any supporting information to support your request e.g. a medical certificate, redundancy letter etc.

Important things to remember?

Depending on your circumstances, you may wish to seek independent legal advice, advice from organisations that provide information about consumer rights, or advice from free and independent budgeting services (see links below).

How long will the process take?

We will endeavour to process within 5 days, but this may be longer due to significant demand.

Who do I contact?

As soon as you become aware you may experience financial difficulties then contact us so we can discuss your situation and see what option may best suit your needs.

  1. Email your Relationship Manager
  2. Send us a secure message as per the steps below:
    1. Log on to Internet Banking
    2. Click on “Secure Message” in the Quick Links menu then click on “Send us a message”
    3. Select “Home Loan enquiry/instruction” as subject line
    4. Input your request in the message body then click on “Send”
  3. By Phone
    1. Premier customers call us 24/7 on 0800 02 80 88 (within New Zealand) or +64 9 368 8557 from overseas (international toll charges apply).
    2. All other customers call us 24/7 on 0800 80 23 80 or +64 9 918 8350 from overseas (international toll charges apply).