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Westpac’s well-heeled customers hit by COVID-19 – The Australian Financial Review

Westpac’s full-year profit result highlights the unexpected demographic that is now struggling to resume home loan payments.

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According to Westpac, 27 per cent of these deferred mortgages worth just over $5 billion are held by people working in professional services, including the legal, information technology, business administration and consulting industries.
A further 11 per cent of its deferred home loans worth just over $2 billion are mortgages taken out by people who work in finance and insurance.
The communication sector has also been hard-hit by the pandemic, with people working in this industry accounting for…

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