The number of Australian households who are struggling to refinance due to serviceability issues has surged from 15% to 30% in just less than six months, according to Compare Club.
New data from the personal finance marketplace and advice company also showed a skyrocketing number of refinancing enquiries from mortgage holders with an LVR of 90%, which makes refinancing tough, if not impossible, and to a level not seen since interest rates began to rise.
Broker News 23rd August 2023
Are you in a position to assist your family when their home loan repayments are escalating and they cannot get a better interest rate?
Do you want to make sure they can retain their home without financial stress or “forced sale”?
Have you considered a reverse mortgage payment as a gift? An amount of $800 per month for 2 years should not affect any age pension entitlements.
Speak with your advisor to find out more and how your personal situation may assist your family.