To help those struggling to repay their home loan because of coronavirus-related financial stress, some banks are allowing borrowers to defer their mortgage repayments for up to six months. But what are the ramifications of choosing to do so?
As the coronavirus (COVID-19) pandemic grinds the country to a halt, hundreds of thousands of people are losing their jobs and may no longer be able to make their mortgage repayments. To help ease some of the pain, most banks are rolling out home loan support for impacted customers, including deferring home loan repayments for up to six months. Read more here
Coronavirus: How hard Melbourne’s market will be hit
As fears about the COVID-19 pandemic continue to plague the world, questions about the impact on the local property market are being raised. Amid the rapid-changing conditions, we asked the experts just how hard the coronavirus outbreak could hit Melbourne real estate.
THE PEAK BODY
Real Estate Institute of Victoria chief executive Gil King said the property sector would “surge on” despite alterations to auctions and open for inspections.