Your client can request to merge their multiple loan splits within one facility. To complete the merge of accounts, the loan purposes and repayment types need to match.
To merge interest only loan splits:
To merge interest only splits, all splits must have the same parameters. For instance, the term of the interest only period (i.e. one year) and the expiry dates across the splits must be the same. If there is a mismatch in splits containing an interest only portion, you’ll need to submit an interest only application to either increase the portion that is interest only or extend an interest only period to align the terms and expiry dates.
To complete these changes and merge loans, your client will need to call us. Our Personal Help Centre has more information you can share with them.