Couple struggle with mortgage repayments after rate rises

Summarised from 2 outlets · Updated 4 Nov, 21:46 · Archive

A couple in their 30s in Canberra say they cannot afford their apartment mortgage repayments after multiple interest rate increases.

A couple in their 30s who purchased an apartment in Canberra 18 months ago say they are struggling to meet mortgage repayments. They were told by their mortgage broker when they took out the loan that they could afford the repayments based on their incomes.

However, the couple now say they cannot make ends meet and are terrified about their financial situation. They describe themselves as desperate for financial support and are unsure where to turn for help.

They fear that a further interest rate increase will push them over the edge and make their situation unmanageable. The couple are seeking advice on how to address their mortgage difficulties.

How it is being reported

• We are terrified right now and desperate for help. Can you give us some advice?Struggling with mortgage repayments? How to find help before it's too late.Newcastle Herald · 4 Nov, 18:00
• We are terrified right now and desperate for help. Can you give us some advice?Struggling with mortgage repayments? How to find help before it's too late.Illawarra Mercury · 4 Nov, 18:00

In this story: Canberra

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log