One in four face mortgage problems

More than a quarter of Australians will have problems meeting their mortgage repayments over the coming months according to RFi’s latest quarterly mortgages monitor report.

26 per cent of Australians admitted they were struggling with their repayments – the highest number on record.

“We have been conducting this survey right throughout the GFC and this is the highest percentage of Australians to openly admit they are or will struggle with their mortgage repayments,” RFi director Alan Shields said.

“The higher cost of living is really affecting certain borrowers,” he said. “People are concerned about how much they are spending on their groceries and how much their electricity bill is.”

Source: The Advisor