Are banks freezing mortgages? Here are the banks putting payments on hold amid coronavirus

PHOTO: Many Australians are facing financial stress due to the coronavirus outbreak.ABC News: Gian De Poloni

With many businesses and services forced to close under the latest Federal Government restrictions to try to curb the spread of coronavirus, many Australians are feeling the pinch when it comes to finances. Especially those with a mortgage.

At least 1 million Australians are facing unemployment as a result of the crisis.

It has many wondering what the banks are doing when it comes to home loans.

Will mortgages be put on hold?

The big four banks have all announced that their customers will be able to pause mortgage payments.

READ MORE VIA ABC