Business
Banks prepare for mass customer call-outs on deferred loans – Sydney Morning Herald
A small but growing number of struggling borrowers who put their mortgages or business loans on hold are resuming repayments, new industry figures show.
A relatively small but growing number of struggling borrowers who put their mortgages or business loans on hold in response the coronavirus crisis are resuming repayments, new industry figures show.
As part of the banking industrys response to the crisis, Australian lenders since March have allowed $274 billion in home loans and small business loans to be deferred for up to six months, with the possibility of further loan extensions.
Australian Banking Association chief executive Anna Bligh: “…
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