45 Per Cent of Surveyed Australians Struggling to Meet Mortgage Repayments, Despite Record Level Low Interest Rates
ALMOST 12,000 Australians who took advantage of the ALP Government’s First Home Owner’s Grant are struggling to meet their mortgage repayments.
Adviser Fujitsu Consulting says 45 per cent of the 26,000 borrowers it surveyed, who had entered the market since mid 2008, were experiencing “mortgage stress” or “severe mortgage stress”.
Mortgage stress refers to a situation where a household spends a third of their income on home loan repayments.
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