Residential mortgages of small business owners are far more likely to be in deferral than the loans of other homeowners, according to new analysis by Equifax.
Equifax found that, based on September data, 10.9 per cent of mortgages held by small business owners were in deferral, compared with 7.5 per cent of mortgage accounts held by other borrowers.
Business owners in the hospitality sector have maintained an even higher deferral rate.
The Equifax analysis find a ratio more than twice the 3 per cent for all mortgage holders APRA has been quoting recently.
Equifax general manager commercial, Scott Mason, said: “Not all Australians are recovering at an equal pace. SME owners are a standout group of borrowers who remain in deferral.”
The company also found there was a high correlation between business owners who registered for JobKeeper and applied for deferral.
“Given how many small businesses are relying on the financial support of both JobKeeper and loan deferrals, it will be a major blow when these relief measures come to an end.