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Breaking free from mortgage prison
With Australia at or near the peak of its rate cycle, it’s understandable that high interest rates have left many investors grasping for options to lower repayments.
In this episode of The Smart Property Investment Show, Phil Tarrant talks to Eva Loisance of Finni Mortgages about what it means to fall into “mortgage prison” and how investors can find themselves in this situation.
For those who believe they’re tied to their current lender with no ability to change lenders, the duo break down some recent changes that might give borrowers some leeway to refinance, and how they can qualify.
The pair also delve into some strategies that borrowers might want to consider to allow themselves more choice with their money while budgets are tight.
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