Thanks for clarifying. It certainly will be the case here in Australia also. Plenty of people who mortgaged up to their max with cheap debt are finding out the hard way that interest rate rises bring on amplified interest repayments. Even a small 400k mortgage once the old fixed rates end are brutal. I know of a couple who are now having to pay an extra $800 a month now that their fixed period has ended. Not easy to find an extra $800 a month.
Ann: Change of Director's Interest Notice - A Abercrombie, page-29
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