MORTGAGE PRISONERS
What are mortgage prisoners?
Mortgage prisoners are people who are unable to refinance their home loans. This could be because you lack equity in your home, or you don’t meet the new bank’s serviceability requirements.
High interest rates are adding “high financial costs” to millions of Australians’ budgets, with many unable to take simple steps to relieve the stress because they are trapped in “mortgage jail”.
Alison and her partner Andrew recently completed building their first home, despite only moving in last November. This follows the Reserve Bank of Australia raising interest rates. (Source: Supplied) The impact on their mortgage payments, which jumped by almost $1,400 a month.
The couple’s monthly payments increased from $951 in December 2022, when their construction loan was fully released, to $2,350 in March of this year, an increase of $1,399 per month.
Refinancing was seen as a quick fix for mortgage holders struggling to find relief from rising interest rates, but for many Australians, including Alison and Andrew, it’s not an option.
Are you worried about repayment? Please contact Skysea International Group on “ 03 9663 0988 “ or “ 0422 060 234 ” to resolve?
Our recent sales results are as follows
1313/23 Batman Street, West Melbourne (Under offer, only 4 days on the market)
14 Bentley crescent, Hoppers crossing
806 / 3 Tarver Street, Port Melbourne
4N09 / 570 Lygon Street, Carlton
5208 / 570 Lygon Street, Carlton
113 Lineham Drive, Cranbourne East
613 / 1 Glenferrie place, Hawthorn
D6013/ 570 Lygon Street, Carlton
1903 / 39 Lonsdale Street, Melbourne
1507 /333 Exhibition Street, Melbourne
61 Nelson Street, Cranbourne East
1102 / 222 Russell Street, Melbourne
12 Starling Street, Cranbourne East
302A / 71 Riverside road, Hawthorn
241/ 1 Queens Road, Melbourne
We currently have on hand cash buyers and existing owners from various buildings all over the Melbourne & interstate who are looking to purchase one, two and three bedroom apartments as well as townhouses and houses so if you have one, two or three bedroom apartments & townhouses & houses which you may be interested in selling, whether in the Melbourne CBD or surrounding areas, we would be delighted in hearing from you!
If you would like to view further details of 1313 / 23 Batman Street, West Melbourne
and some marketing photo’s, simply Google the address and see our ad on Domain.com.au.
Kind regards,
SUNNY LU
Managing Director& Licensed Estate Agent
SKYSEA INTERNATIONAL GROUP
0422 060 234
Email: skysea.aus@gmail.com
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Skysea International Group
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Located in the heart of the Melbourne CBD, Skysea International Group was founded in 2006 with a very clear vision in mind, to provide local and international property investors with superior customer services unmatched in the industry. We aim to shine in every area of our business. As an integrated enterprise, we apply our insight, experience, intelligence and resources to help clients make informed real estate decisions. We have multiple subsidiaries providing a wide range of services to our valued clients, consisting of buying and selling of real estate, investment advisory, property and building materials development and immigration planning. With a dedicated team of investment advisors and sales professions, we listen to you, respond to your needs and work in partnership with you to achieve your real outcomes.
Ref: yahoo!finance “Aussie couple’s $1.4k hit reveals ‘mortgage prison’ risk of property ‘leg up'”
Please disregard this notice if your property is currently listed for sale with another real estate agency; however we would most certainly appreciate future consideration.
