With another rate rise looking likely next week, there is a cohort of Australian home owners who have found themselves in a bit of a tricky situation.

Some, looking to refinance and get a better deal than the higher rate they're on, aren't able to get any financial institution to help them because they no longer meet the documentation requirements when their mortgage repayments are taking up more of their household income, or their house is now worth less than their loan.

This situation is known as a mortgage prison, when you can't afford the rate rise increases on your current mortgage but you also can't move to another option in order to make it more affordable. 

In this episode, The Quicky team finds out how mortgage prisons work and what it takes to break free from one. 

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Feedback? We’re listening! Call the pod phone on 02 8999 9386 or email us at podcast@mamamia.com.au

CONTACT US

Got a topic you'd like us to cover? Send us an email at thequicky@mamamia.com.au

CREDITS 

Host: Claire Murphy

With thanks to: 

Dr Shane Oliver - Head of Investment Strategy and Chief Economist at AMP Capital

Parts of this episode were performed by voice actors

Producer: Claire Murphy

Executive Producer: Liv Proud

Audio Producer: Thom Lion

With another rate rise looking likely next week, there is a cohort of Australian home owners who have found themselves in a bit of a tricky situation.
Some, looking to refinance and get a better deal than the higher rate they're on, aren't able to get any financial institution to help them because they no longer meet the documentation requirements when their mortgage repayments are taking up more of their household income, or their house is now worth less than their loan.
This situation is known as a mortgage prison, when you can't afford the rate rise increases on your current mortgage but you also can't move to another option in order to make it more affordable. 
In this episode, The Quicky team finds out how mortgage prisons work and what it takes to break free from one. 
<a href="https://www.mamamia.com.au/subscribe/?utm_source=shownotes&amp;utm_medium=podcast&amp;utm_campaign=quicky">Subscribe to Mamamia</a>
GET IN TOUCH
Feedback? We’re listening! Call the pod phone on 02 8999 9386 or email us at <a href="mailto:podcast@mamamia.com.au">podcast@mamamia.com.au</a>
CONTACT US
Got a topic you'd like us to cover? Send us an email at <a href="mailto:thequicky@mamamia.com.au">thequicky@mamamia.com.au</a>
CREDITS 
Host: Claire Murphy
With thanks to: 
Dr Shane Oliver - Head of Investment Strategy and Chief Economist at AMP Capital
Parts of this episode were performed by voice actors
Producer: Claire Murphy
Executive Producer: Liv Proud
Audio Producer: Thom Lion

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The Quicky

The Quicky is Mamamia's daily podcast that gets you up to speed on the top stories, then dives deeper on one topic you want to know more about. It’s a show that helps you cut through the noise and tells you exactly what you need to know today.

It’s what women are talking about today. Interesting stories. Intelligent conversation. Minus the shock and horror. 

The Quicky is Mamamia's daily podcast that gets you up to speed on the top stories, then dives deeper on one topic you want to know more about. It&rsquo;s a show that helps you cut through the noise and tells you exactly what you need to know today.
It&rsquo;s what women are talking about today. Interesting stories. Intelligent conversation. Minus the shock and horror.&nbsp;

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