Financial hardship

If you’re in genuine financial hardship or require an alternative payment arrangement, please share your details below and we’ll do what we can do to help. Please note:

  • We may require further information from you to verify genuine hardship and affordability (e.g. bank statement, payslip etc) to ensure our arrangement is compliant with relevant regulation & policy
  • Such arrangements do incur a Default Fee equal to at least 2% per month (calculated monthly, on the outstanding balance of your agreement)
  • We may register your financial hardship arrangement on your personal credit report (learn more about this via OAIC and Equifax Australia)
  • Failing to meet the new arrangement will result in the new arrangement being cancelled, with an immediate and full repayment immediately due
  • We strongly recommend considering alternative payment methods that may be more flexible (e.g. pay over a longer period of time), cheaper or less impactful on your personal finances. We cannot provide financial advice, but as a general example – you may consider an equity release or mortgage redraw, other payment plan facilities available to you via your bank or credit card, or even a personal loan.
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Terms & conditions for your new payment arrangement

Your original Vendor Payment Agreement (“Original Agreement”) was provided by Rello Finance Pty Ltd ACN 633 994 859 (“Rello”, we, us) for the purpose of deferring payment of listing and advertising costs (‘Marketing Costs’) associated with the sale of your Property pursuant to a Listing Agreement with your Listing Agent.

Rello advanced monies on your behalf to your Listing Agent in return for Rello’s Share of the Sales Proceeds. Payment was due at the earlier of Settlement, date of Deposit Release, date the Property is Withdrawn from sale or 180 days from the date we paid the Marketing Costs (the “Buy Back” date). You acknowledge that you have, or will, default on the payment required under the Original Agreement.

By submitting this request for a Payment Arrangement:

(i) You acknowledge your obligation to pay back Rello’s Share of Proceeds advanced on your behalf for the purposes of listing and marketing your Property, as per your Original Agreement and acknowledge that you are (or will be) in default under that agreement.

(ii) You confirm by entering into this Payment Arrangement, we are agreeing to delay taking enforcement action against you for a period of time, even though the Amount Owing (which includes Rello’s Share of Proceeds and any default interest and/or costs in securing our interest including a caveat if applicable) is currently (or will be) due and payable under the terms of the Original Agreement.

(iii) You acknowledge our right to charge a Default Fee of 2.0% of the unpaid Amount Owing until repaid in full.

(iv) You authorise Rello to debit your Nominated Account for all Amounts Owing on each scheduled Due Date.

(v) You intend and commit to adhere to your proposed Payment Arrangement Schedule.

(vi) You reconfirm you consent to Rello lodging a caveat over the Property to protect Rello’s interest in it under this agreement to secure payment of any money due to Rello.

This Payment Arrangement will come into force when we confirm acceptance. We reserve our right to other means to recover the Amount Owing which may include listing a credit default and or potential legal action.

As long as this Payment Arrangement is adhered to, enforcement action under the Original Agreement will not be taken (the ‘no action period’).

Your acceptance