General
Home loan deferrals wind down as banks end mortgage holidays
From a peak of 854,606, the number of home and small business loan deferrals dropped to less than 5,000 as the banks wound up their programs at the end of last month, new data shows.
Key points:
- Home loan deferrals have fallen from a total of 468,786 to 3,170
- Small business loan deferrals are down from 235,440 to 508
- The Australian Banking Association says its members will continue to support those struggling due to the pandemic even though the deferral scheme has formally ended
The latest data from the Australian Banking Association reveals there were just 3,170 home loans with the big four banks and Suncorp still deferred by the end of March.
That was down from a peak of 468,786 of total deferrals requested throughout the pandemic.
It means…
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