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Standard Bank’s head of personal and business banking, Funeka Montjane, has urged those with mortgages to act early to find a solution.

“To our customers who have mortgages we say we understand, some people are going to get paid, some have savings, those who can’t we have sent them messages that say call us and we will do a personalised solution for you. In 2010 we found ourselves with about 15% of our customers who are unable to pay their mortgages for three or more months. We simply asked them to call us and we were able to restructure and make plans. For 99% of them, they kept to those agreements.

To lighten the load and pressure for small business owners, we are giving our customers with a turnover of less than R20m a 3 month payment holiday, effective 1 April 2020.

The Banks should cancel and advise people and the company that can pay to contact them. For four months.

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