Business
CBA wants struggling customers to try interest only – The Australian Financial Review
Commonwealth Bank of Australia says more than one in 10 customers with deferred loans are considered “high risk”.
Under interest-only terms, a customer with an average $350,000 mortgage could repay interest of just $200 a week and keep the loan on track.
“Unlike other cycles, where the cash rate is now means interest-only is a very viable option for many customers,” Mr Comyn said.
Over recent weeks, as Victoria locked its economy down under stage four restrictions, CBA saw a 20 per cent increase in requests for information from borrowers about assistance but Mr Comyn said there had only been a slight incr…
-
General24 hours agoWondering about winter | The Spectator Australia
-
Noosa News23 hours agoJane Bunn weather: Cyclone Errol forms as effects of Alfred still felt across Queensland
-
General22 hours agoNo ‘band-aid solution’: sweating coal risky business
-
General22 hours agoParents of Heidi, 3, remember ‘beautiful’ daughter killed in Ocean Grove crash