Alarm bells as borrowers struggle

Original article by Cliona O’Dowd
The Australian – Page: 13 & 18 : 15-Sep-21

Data from the Australian Banking Association shows that 57,000 homeowners and businesses have requested hardship assistance from their lender in the last month, compared with just 20,000 in the prior month. Home loan deferrals have risen from 14,500 to more than 27,000 in the last month, while the number of deferred business loans has risen from 600 to 3,500. New South Wales has been the biggest source of requests for hardship assistance, with Sydney having been in a COVID-19 lockdown since June.

CORPORATES
AUSTRALIAN BANKING ASSOCIATION

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