Business
More borrowers tipped to fall behind on mortgages as support schemes expire – Sydney Morning Herald
Government schemes, including JobKeeper, pushed mortgage arrears lower in recent months but credit rating agency Moody’s warns that trend will soon reverse.
Credit rating agency Moodys warns a growing number of borrowers will struggle to meet their mortgage payments in the coming months, as COVID-19 emergency support schemes come to an end.
Despite the huge financial shock caused by the pandemic, mortgage arrears fell during the December half as the economy was shielded by a wave of taxpayer support, including the JobSeeker wage subsidy, and banks allowed customers to defer their payments.
Moodys said the end of support schemes from the government and…
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