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Banks may hit home buyers with higher interest for claiming hardship – NEWS.com.au
Banks may hit home buyers with higher interest for claiming hardship
Financially distressed mortgage holders pressing pause on their loans could be hit with higher interest fees from their banks if they seek further help because of the coronavirus pandemic. Home buyers unable to resume normal repayments beyond the loan deferral deadline at the end of September may be forced to opt into higher interest-accruing loan products to avoid the possibility of losing their property while money is tight.
Banks are offering mortgage holders still feeling the financial pain…
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