Concerns about growing number of households in mortgage stress

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Concerns about growing number of households in mortgage stress

A few friendly reminders:

  1. The bank will lend you more than is responsible

  2. Buy property for the long term. The longer you hold property, the less likely you are to experience a loss situation

  3. Do your own numbers and tie in repayments with your budget and long term plan

  4. Allow in your forecasts for interest rates to go up or your income to go down

  5. Don’t spend every last cent on a house. Buy a slightly less expensive house and invest the rest to produce a passive income

  6. Property can go down; it doesn’t always just go up

See below for an interesting video on the state of property and mortgage stress in Australia

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