ANZ: No more repayment holidays
ANZ spokeswoman Emma Mellow said banking regulations meant that customers who used loan repayment holidays now have to be recorded as if they had missed their loan repayments.
“This would negatively affect their credit rating. The customers who chose this option were not in financial hardship, but proactively managing their particular situation – for example, an extended overseas holiday. We didn’t think these customers should have their credit rating impacted, when there are other alternatives are suitable (which will depend on their situation).”
Mellow said only a small number of customers used loan repayment holidays. Existing arrangements would continue, she said.
Brokers are not allowed to publicly criticise lenders under the terms of their agreements.
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