Article from ABC news on Big 4 putting payments on hold

We thought this article (link below) was useful in explaining the terms and some of the processes the Big 4 banks have advised regarding those customers seeking to defer their repayments due to COVID-19 impacts. Given approximately 80% of Australians bank with these institutions, this covers a lot of our clients.

We will be issuing this week our own advice around the potential pitfalls of deferring payments, so please stay tuned.

https://www.abc.net.au/news/2020-03-26/are-banks-freezing-mortgages-banks-putting-payments-on-hold/12090642