Commonwealth Bank of Australia (CBA) is encouraging distressed property investors to take advantage of the surging house prices and sell their properties. Listing investment properties on the market is one of several options the bank is suggesting for customers who are unable to repay their home loans, according to The Australian. “If you’re an investor, and you’ve got an investment property that’s causing you challenges, it’s been an opportunity to take advantage of the market and sell it,” CBA group executive for retail banking services Angus Sullivan told The Australian. CBA will be keeping a close eye on any signs of financial distress from mortgage customers with the end of both JobKeeper and the home loan deferral scheme this month. Customers in the most hard-hit sectors, such as tourism and travel, will be at the centre of the bank’s attention, Sullivan said. “For customers in a position of more challenging …
Australian Bank Tells Distressed Property Investors to Sell
March 30, 2021
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