Australian Banks to Extend Home Loan Deferral to Customers in Need

A pedestrian is reflected in the window of a branch of the Australia and New Zealand Banking Group (ANZ) in central Sydney, Australia, Oct. 25, 2017. Reuters/Steven Saphore/File Photo

The Australian Banking Association (ABA) announced on July 8 a second wave of financial support to help customers cope with the ongoing financial hardship caused by the CCP virus.

The move will extend the mortgage deferral terms for up to four months, giving mortgage borrowers a reprieve before they have to start repaying their loans.