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Australians who have lost their job because of lockdowns can ask their bank for a mortgage holiday.
Construction workers in Sydney have been banned from going to a building site since Monday, while non-essential shops have stopped trading since Saturday.
Melbourne is expected to extend its lockdown on Tuesday beyond the initial five days, with non-critical retailers also barred from opening.
Professional services firm KPMG is now calculating Sydney's stricter lockdown will cost $1.5billion a week - more than double Treasury's estimate of $700million for the earlier, more moderate lockdown that had allowed all shops to trade.
Small business owners and workers with a mortgage can ask their bank for a loan repayment holiday as they were able to in March 2020 during the national Covid lockdowns.
Australians who have lost their job because of lockdowns can ask their bank for a mortgage holiday. Pictured is a stock image
But RateCity research director Sally Tindall said borrowers needed to realise deferring repayments on a $500,000 mortgage would add an extra $1,712 in
