PHOTO: 123RFBanks are letting struggling home loan customers postpone some mortgage repayments.
Tens of thousands of mortgage “holiday” applications from homeowners and requests for emergency loans from small businesses are pouring into the big banks.
The numbers are changning hour by hour, but figures provided by four of the big five banks indicate nearly 30,000 home loan customers are seeking help as they struggle to meet their mortgage repayments as a result of income drops caused by the Covid-19 lockdown.
At midday on Thursday April 2, Kiwibank had had over 7000 enquiries related to Covid-19, and extended emergency lending to 700 small and medium business customers.
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