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.
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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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