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Coronavirus bank loan repayment deferral guidance issued by regulator ASIC – ABC News
With time running out on the initial six-month COVID-19 home loan repayment deferrals, the regulator is telling banks how affected customers should be dealt with.
When the COVID-19 pandemic reached Australia’s shores in earnest in late March, banks and other lenders were quick to extend assistance to customers who lost their income during the lockdowns.
Key points:
- Financial regulator ASIC has set out guidelines for lenders to follow when ending COVID-19 loan repayment deferrals
- Your lender should contact you to inform you of when your deferral will end
- If you can’t afford to resume full repayments, your lender should have a conv…
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