Business
Banks signal end of COVID-19 loan freezes – NEWS.com.au
Banks signal end of COVID-19 loan freezes
Australias banks will stop sweeping loan deferral schemes brought in at the height of the pandemic, as economic stabilisation prompts a cooling off in demand for financial hardship provisions. The country’s major four banks have begun stopping mortgage holidays, which were implemented industry-wide last year allowing homeowners and businesses to pause repayment obligations for up to six months.
A further four month extension was available in October to customers who were still financially damaged…
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