CBA to begin “encouraged” property sales

Via the AFR:

Commonwealth Bank says its most over-leveraged borrowers – those whose prospects for returning to work after the coronavirus look the bleakest – could be encouraged to downsize the family home or sell multiple investment properties.

Angus Sullivan, head of CBA’s retail bank, reassured all struggling borrowers that it won’t move too quickly to force them into making tough decisions, and it wants to maintain a close dialogue to understand the pressures on each customer.

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