From The AFR comes another report on how borrowers switching from interest-only mortgages are facing a huge lift in repayments:
A typical borrower paying 4.50 per cent on a $400,000 loan will have to prove to their lender they can meet repayments for a 7.25 per cent loan, or an increase in annual repayments from $18,000 to more than $32,700, the analysis shows…
