More than 17,000 applications to defer mortgage payments as virus hits home

Singapore

MORE than 17,000 consumers have applied to defer their mortgage repayments, in a nod to the escalating impact of the virus outbreak.

These numbers, collated by The Business Times across seven major retail banks here, are estimated by economists to be about 3 per cent of total mortgage loan values here, and an estimated 2 per cent of households that still have outstanding home loans.