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With 1 in 14 mortgages deferred for 6 Months the Bank of Mum & Dad is going to needed more than ever

With 1 in 14 mortgages deferred for 6 Months the Bank of Mum & Dad is going to needed more than ever

1 in 14 Australian mortgages now deferred as COVID-19 impact continues

Updated figures from the Australian Banking Association (ABA) reveal that 1 in 14 mortgages across the country have now been deferred as a result of the fallout from COVID-19. 

 

Released on Saturday, the new figures show that nearly 429,000 mortgages totalling $153.5 billion have now been deferred, which is a 10% increase since the ABA’s last update earlier this month.  

 

According to the ABA, that takes the total number of loan deferrals (including business loans) to 703,000 since the COVID-19 pandemic began, worth approximately $211 billion.

Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…

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