Mortgage stress: can't make your next repayment? Call your lender now

Here's what to say, who else can help, and what to do if you're already behind. Start with what's changed, when the payment is due and what you can afford after essentials.

For free, confidential help with the numbers and the lender conversation, call the National Debt Helpline on 1800 007 007. A financial counsellor can help you work through the mortgage and your other debts.

If paying the loan means missing essentials or repeatedly borrowing for everyday costs, ask for help. You don't have to wait until your finances fit a definition of mortgage stress.

Before you ring, find the repayment date, amount due and any arrears (missed payments). Write down reliable income and essential spending: food, utilities, transport and medical care.

If you can't afford any payment, say so. Don't agree to an amount you know you can't keep up.

You can say it this simply:

Fill in the brackets with your own details.

I'm calling about financial hardship on my home loan. My circumstances changed because [reason]. My next payment of [amount] is due on [date]. After essential costs, I can afford [amount] a fortnight or month. I expect this to last [time, if known].

Use your bank's official contact details. Ask what information it needs, when you should expect a decision and what to do about payments while it considers your request.

Keep notes of the call. Moneysmart's mortgage-payment guidance explains the hardship process.

If you've received a default notice or court papers, say that at the start of the call. Get legal advice urgently too. A hardship request is not a reason to ignore a deadline.

A financial counsellor can help you deal with your lender and other creditors. Have statements and letters ready if you can, but don't delay because paperwork is incomplete.

Include other debts: a mortgage arrangement may not fix the budget if credit cards and personal loans take the spare income.

Financial counsellors don't provide legal advice. They can help with the money problem, while a legal adviser deals with legal action.

If it isn't safe to discuss money at home, tell the counsellor privately and agree on a safe way for them to contact you.

Your lender may reduce or pause payments or change the loan terms. This is called a hardship variation. Ask what help is available for your circumstances.

Ask how interest and arrears will be handled, and what you'll pay afterwards. A lower payment today can mean more interest or a higher payment later.

Get the agreed terms in writing, including the start and finish dates. If the new amount becomes unaffordable or your situation changes, tell the lender promptly.

Don't let fear of a future loan stop you asking for help with this one. A financial hardship arrangement doesn't affect your credit score, but hardship information can appear on your credit report.

Repayments under an agreed arrangement are recorded differently from missed payments without one.

That doesn't guarantee a future application will be approved. A new lender still assesses your position.

Ask your current lender how your specific arrangement and repayments will be reported.

Don't assume you have 90 days before the lender can act. A lender can send a default notice as soon as a payment is overdue. Keep every letter and write down each deadline.

If you can't resolve the problem with the lender, use its internal complaints process. The Australian Financial Complaints Authority, or AFCA, offers free, independent dispute resolution if you can't reach agreement.

Don't assume making a complaint stops enforcement or extends a legal deadline. Ask a legal adviser what applies to your situation.

A cheaper loan can help some budgets. But a refinance still needs approval, and missed payments or lower income can make that harder.

The new lender checks affordability, other debts, credit history and the property. Speak to your existing lender about hardship help before paying application costs or relying on a promised refinance.

If switching looks realistic, compare the costs and the total interest, not just the new monthly payment. Starting a longer loan term can lower the payment while leaving you paying interest for more years.

Be especially careful about adding credit cards or personal loans to debt secured against your home.

Our refinancing guide explains switching costs and loan-term comparisons. Our mortgage brokers in Brisbane can check whether a switch is realistic before you apply. That is a separate conversation from the urgent hardship help your current lender can consider.

If the ongoing payment is unlikely to become affordable, discuss a planned sale with your financial counsellor, lender and solicitor. Allow for agent and legal costs, the loan balance and where you'd live afterwards.

A sale won't necessarily clear every debt. Getting those figures early gives you something firmer to decide on than hoping next month will be easier.