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    Home > Legal insights > All > Banking and Financial Services > Commercial Lending > COVID-19 | ASIC publishes expectations of retail lenders when loan repayment deferrals end

COVID-19 | ASIC publishes expectations of retail lenders when loan repayment deferrals end

17 August 2020
Sonia Apikian, Partner, Melbourne Susan Verginis, Special Counsel, Melbourne

On 13 August 2020, the Australian Securities and Investments Commission (ASIC) issued letters to lenders, notifying them of ASIC’s expectations once the mortgage deferral period expires next month. Lenders had offered the six month mortgage repayment deferral period to their customers, in response to the COVID-19 pandemic, which debt is estimated to be worth billions of dollars.

ASIC also published its expectations of lenders, which we have summarised in the following infographic:

 

For details of all our COVID-19 tips and updates, visit the Gadens COVID-19 Hub.

Authored by:

Sonia Apikian, Partner
Susan Verginis, Senior Associate and Pro Bono and Corporate Social Responsibility Manager

This update does not constitute legal advice and should not be relied upon as such. It is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content.

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