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Rate of home loan deferrals drops drastically post-lockdown

Author
Newstalk ZB,
Publish Date
Mon, 25 Jan 2021, 10:04AM
Photo / Getty | File
Photo / Getty | File

Rate of home loan deferrals drops drastically post-lockdown

Author
Newstalk ZB,
Publish Date
Mon, 25 Jan 2021, 10:04AM

Another sign that some of the economic pain of 2020 has been dealt to.

Data from credit bureau Centrix shows the number of people wanting mortgage holidays is down to 0.6 per cent of all loans - just more than 8,000 in total.

Centrix chief executive Keith McLaughlin told Mike Hosking this is despite deferrals being taken up "aggressively" over the lockdown.

"Back in June, July, August, it was seven percent of all mortgages were on deferral, and that was 97,000 loans were on deferral. 

"That's really come right back down again."

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