Australia’s Interest Only Loan Conversion

Apr 23, 2018 10:06:27 AM

Around 1.5 million borrowers could face mortgage stress over the next four years the Reserve Bank warns, as existing interest only loans will convert to principal and interest loans. While most borrowers will simply move to principal and interest repayments, a significant proportion may find the step-up too difficult to manage. Read on to find out how you can prepare yourself for this type of scenario.

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Topics: Mortgage Broker, Australia Property, australia finance, mortgage stress, Mortgage Debt, interest only loans