The number of ANZ mortgage customers making both principal and interest repayments is almost back to where it was before the arrival of the COVID-19 pandemic.
Ben Kelleher, ANZ NZ Managing Director, Personal Banking, said “89 per cent of our home loan customers are making both principal and interest payments on at least one home loan”.
In February 2020, 90.6 per cent of mortgage customers who had a home loan were making principal and interest payments.
That figure dropped sharply to about 80 per cent the following month, after the arrival of the pandemic.
“A number of customers sought help with their loans,” Mr Kelleher said.
“They either deferred repayments for a period, or switched to interest-only payments in 2020.
“The good news is that we have since seen a steady increase in the number of our customers who are making both principal and interest repayments - it is heading back to pre-COVID levels.
“It’s a reflection of the relative strength the economy has shown over the past year.”