CBA kicks mortgage cliff to Q3 2021

With repayments on $133 billion worth of mortgages from 325,000 borrowers still deferred, according to APRA, Australia’s largest bank – CBA – has extended a moratorium on forced sales until September 2021:

In an email between CBA and Financial Counselling Australia (FCA) obtained by News Corp, the bank confirmed customers still impacted by the health crisis would have certainty of remaining in their house for the upcoming holiday season.

CBA head of retail banking, Angus Sullivan, said the bank is aware a number of customers remain worried about the ongoing uncertainty plaguing the economy from the pandemic, with the eviction freeze designed to give borrowers ample time to assess their financial situation.

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