Australian Banks start asking for Loan Repayments after Pandemic Grace Period

Australian banks start asking for loan repayments after six-month virus grace period SYDNEY – Australia’s banks said on Monday they have started asking customers to pay back loans after giving them a six month hiatus due to the coronavirus, prompting concerns some borrowers will be forced to sell their homes once government support ends. The Australian Banking Association (ABA), a lobby group, said its members had started contacting holders of 260,000 mortgages and 105,000 business loans to check if they could resume payments once deferrals expired in September and October.…

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