1 in 14 Australian mortgages now deferred as COVID-19 impact continues

Updated figures from the Australian Banking Association (ABA) reveal that 1 in 14 mortgages across the country have now been deferred as a result of the fallout from COVID-19. 

Released on Saturday, the new figures show that nearly 429,000 mortgages totalling $153.5 billion have now been deferred, which is a 10% increase since the ABA’s last update earlier this month.  

According to the ABA, that takes the total number of loan deferrals (including business loans) to 703,000 since the COVID-19 pandemic began, worth approximately $211 billion.

“Since this crisis started banks have deferred the mortgage repayments of 429,000 Australian families or a staggering one in fourteen of all home loans,” said ABA chief executive, Anna Bligh. 

“Australian families who are financially affected by this crisis have had the breathing space they need with a six month deferral on their home loan repayment while they chart a path through to the other side of this downturn.”

While the temporary repayment relief may be welcome for many financially-hit households, it’s worth remembering that unpaid interest which accrues during this period will still be added to the outstanding balance of the loan. The same may also be the case for any regular fees. 

In addition to loan deferrals, Australian banks have also rolled out a number of other assistance measures in response to COVID-19 including fee waivers, rate reductions, loan consolidation and more. 

RELATED: COVID-19 property moves: 320,000 Aussie homeowners defer mortgages

For more COVID-19 information, including for mortgage holders, businesses, savers and travellers, we’ve pulled together a host of resources on everything you need to know about coronavirus and your finances.

Last updated 25 June 2025 Important disclosures and comparison rate warning*
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    Fixed Rate Home Loan

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    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
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    5.49 % p.a.
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    Initial monthly repayment
    $2,836
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    5.29 % p.a.
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    Initial monthly repayment
    $2,773
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    5.29 % p.a.
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    Comparison rate
    5.69 % p.a.
    Initial monthly repayment
    $2,773
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  • Fixed Home Loan

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    Fixed 2 years
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    5.72 % p.a.
    Initial monthly repayment
    $2,773
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  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.40 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
    • Built by CommBank
  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.52 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months
  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.76 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options
  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.
  • Variable Basic Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.53 % p.a.
    Variable
    Comparison rate
    5.57 % p.a.
    Initial monthly repayment
    $2,848
    Go to site
    • $0 application fee to pay
    • Unlimited additional repayments
    • Apply in as little as 15 minutes
  • Variable Offset Home Loan

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.53 % p.a.
    Variable
    Comparison rate
    5.74 % p.a.
    Initial monthly repayment
    $2,848
    Go to site
    • $0 application fee to pay
    • Apply in as little as 15 minutes
  • Flex Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
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    5.53 % p.a.
    Fixed 2 years
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    Initial monthly repayment
    $2,848
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  • Budget Home Loan

    • Owner occupier
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  • Variable Home Loan 90

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    • 10% min deposit
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    5.54 % p.a.
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    Initial monthly repayment
    $2,852
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    • No monthly or ongoing fees
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  • Basic Variable Home Loan

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    • Principal & Interest
    • 40% min deposit
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    5.63 % p.a.
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    5.64 % p.a.
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    Initial monthly repayment
    $2,883
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  • Offset Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable
    Comparison rate
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    Initial monthly repayment
    $2,883
    Go to site
    • No ongoing monthly loan maintenance fees to pay.
    • Pre-approval valid for 3 months
  • Flex Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
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    Interest rate
    5.64 % p.a.
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    5.89 % p.a.
    Initial monthly repayment
    $2,883
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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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