Mortgage stress drives 19% spike in financial hardship
Nearly half of hardship cases reported last month related to mortgage repayments, while company liquidations spiralled by more than a third during the year, led by building and construction.
The bulk of mortgage payments arrears were for customers aged between 35 and 49.
Credit bureau Centrix says there were 14,281 consumer accounts in the financial hardship bracket last month, up 19% on the same time last year.
That’s more than three times the 4369 cases reported to banks and other lenders pre-pandemic, during March 2019.
Nearly half of those, or 6616 accounts,
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