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Podcast: Lawyers Weekly Podcast Network
Episode: Property Finance Uncut: Don’t let RBA’s latest rate hike land you in mortgage prison
Description: Amidst another RBA rate hike in March, Australians are not only facing the looming threat of falling off the mortgage cliff but are also finding themselves trapped in a different kind of financial dilemma — a mortgage prison. Smart Property Investment’s Phil Tarrant and Finni Mortgages’ chief executive Paul Glossop acknowledged the increased pocket pain that borrowers are burdened with, thanks to the central bank’s continued monetary policy tightening in 2023. And while refinancing has become the go-to recourse for borrowers to deal with the blows, they shine a spotlight on borrowers who find themselves unable t...