Mortgage prisoners and interest rate headwinds | The Real Estate Podcast Episode 4
The concept of a “mortgage prisoner” is becoming an increasing problem with rising rates and falling home values.
Essentially a mortgage holder is trapped in a product that is now unsuitable or on a rate that is higher than it could be – and they cant get out of it. It does not make sense and is not in the clients best interest.
As such it was a pleasure being featured on The Real Estate Podcast where I had the opportunity to share my thoughts on this problem and why its happening and why changes need to be made for assessing refinances for those with a good credit history and repayment history.
This is for general information purposes only and does not constitute advice. With all of these options there are a number of considerations outside the scope of what is covered in this article that you need to understand to ensure your personal circumstances are taken into consideration.
Equilibria Finance is a mortgage broking practice specialising in delivering residential and commercial mortgage and business and asset finance solutions to the clients of financial advice and accounting practices.