Three quarters of Australian borrowers are now at risk of becoming home loan hostages due to their lifestyle and financial decisions, new research from mozo.com.au has found. “Home loan customers might be unaware that when they go to refinance their home loan with a new lender, they are assessed as though they are a new […]
Tag Archives: Mortgage prison
22
Feb
Feb
Finance brokers in Sydney have said successive interest rate rises, higher serviceability buffers and decreases in property values are combining to cause some borrowers trouble with refinancing their loans – even when the loans they would switch to would be cheaper for them to service. Borrowers are increasingly encountering so-called “mortgage prison” problems as interest […]