Those Australians in financial difficulties who receive government benefits can also obtain mortgage loans approved by the bank. According to the federal government’s JobKeeper program, more than 3.6 million people received a fortnightly subsidy of A$1,500, for a total of A$41.8 billion.
“For those who receive JobKeeper, not everyone can return to their jobs before the outbreak,” he said. “If these people apply for a housing loan and are approved by the bank, but they may no longer be able to do their previous jobs, then they cannot repay the loan.”
Experts say that many lenders “very support” JobKeeper recipients and approve loans to them. As to whether JobKeeper recipients should be approved for mortgage applications, “this needs to be evaluated on a case-by-case basis.”
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