22 Oct Are you or any one you know a mortgage prisoner?
If yes, we have a solution for you to break free. Take the first step and contact us for your eligibility assessment. Being a mortgage prisoner is simply when one is unable to refinance from a high interest rate home loan to a better deal. This usually happens if existing home loan was obtained when interest rates were much lower than they’re now. Then high interest rates resulting in significantly reduced borrowing capacity such that one is not able to borrow the same loan amount they borrowed just a few years ago. This also happens if property value drops, income has reduced and/or cost of living has increased without much increase in income. Remember the low interest rates during and after covid-19? Now they’re more than double and thereby resulting in lots of mortgage prisoners. The good news is that we may be able to help you, let us assess you and check if you’re eligible to escape to a much better deal.
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