+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Australia's Mortgage Deferral Hangover, 2020 Report

  • ID: 5185191
  • Report
  • June 2020
  • Region: Australia
  • 51 Pages
  • RFi Group
1 of 3
1 in 4 Borrowers Will Be Facing Mortgage Stress in the Next 12 Months, 7% Higher than at the Height of the Global Financial Crisis

FEATURED COMPANIES

  • American Express
  • ANZ
  • CBA
  • ING
  • NAB
  • Westpac
  • MORE

The Australia’s Mortgage Deferral Hangover Report combines expert insight with the publisher's unique data on the impact of the COVID-19 pandemic to determine how many borrowers will be affected in Australia and for how long.

This report draws from a comprehensive consumer research conducted by the publisher in March, April, and May of 2020. As the COVID-19 global health pandemic unfolded, the publisher surveyed more than 12,000 Australian consumers in order to forecast the immediate impact on mortgage borrowers, and their lenders, over the next 12-24 months.

Some key findings from the report include:

  • One in four borrowers will be facing mortgage stress in the next 12 months, 7% higher than at the height of the Global Financial Crisis
  • More than 10 million Australians have been, or expect to be, impacted financially by the COVID-19 pandemic
  • Almost 300,000 more borrowers are likely to seek repayment deferrals in the next 12 months
  • Families and the over 55’s will feel the impacts for the longest

This is a must-read report for all financial service professionals.

Methodology

The data used for this report is sourced from the publisher with: Surveys of more than 12,000 Australian consumers conducted in March, April and May 2020. All surveys are conducted online and have been anonymized. Where appropriate significance testing at the 95% confidence level has been conducted. Significant differences have been marked throughout the report/Further data cuts are available to clients on request. The following acronym has been used throughout this report: MFI = Main Financial Institution.

Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • American Express
  • ANZ
  • CBA
  • ING
  • NAB
  • Westpac
  • MORE

Section 1: Market Context

  • Assessment of the impacts of COVID-19 on Australians
  • How will COVID-19 affect mortgage holders over the next 12 months?

Section 2: Mortgage Stress and Deferment

  • How has mortgage stress, over-payment intention changed over time?
  • Which banks mortgage customers are most likely to be stressed?
  • Is there going to demand for deferrals in the near future
  • By when do customers expect for their finances to go back to pre-outbreak levels?

Section 3: Competitor Impact

  • Can we see evidence of a flight to safety towards the Big 4?

Section 4: Review of Customer Satisfaction with Measures Taken by Banks to Help Manage the Impacts of COVID-19

  • Banks’ ongoing response to the pandemic
  • How satisfied are customers with their banks’ response so far?
  • Quantifying the long term benefit of exceeding customer expectation

Other Markets Available on Request

Note: Product cover images may vary from those shown
3 of 3
  • ANZ
  • CBA
  • NAB
  • Westpac
  • ING
  • American Express
Note: Product cover images may vary from those shown
Adroll
adroll