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‘A forced sale is a last resort’: NAB prepares to assess deferred mortgages

BROOKE CORTE
Article image for ‘A forced sale is a last resort’: NAB prepares to assess deferred mortgages

About half of the 77,000 NAB customers whose mortgage repayments have been deferred will soon receive a phone call from the bank and their ability to resume making repayments will be assessed.

About 15% of NAB customers who paused their home loan have been able to recommence making repayments but the balance of customers are still in a COVID-19 induced holding pattern.

Rachel Slade is NAB’s Personal Banking Group Executive and says the bank is prepared to work through every available option but concedes forced sales are not off the table.

“We will work with customers where it makes sense for the customer to stay in their home,” Ms Slade told Brooke Corte.

“Sometimes, unfortunately, there are really challenging situations where the decision is actually the right one for the customer to move out of their home because that’s actually going to leave them in a better financial situation,

“A forced sale is a last resort,”

Click play to hear the full interview:

BROOKE CORTE
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