Based on UBS’ Australian Financial Markets Enhance toward 19 September, and therefore with it an unknown survey of 1,008 customers whom got away home financing in the last a dozen months, 18 % reported that it have no idea whenever their interest-simply (IO) financing expires, when you are 8 per cent considered its IO term is 15 years, which doesn’t can be found about Australian markets.

The study learned that fewer than half from respondents, or 48 per cent, thought their IO term ends contained in this five years.

The fresh new resource bank said that it discover which concerning and you may are worried about insufficient insights regarding your boost within the repayments when the IO months expires.

New main lender noted that the increase would make upwards seven percent, otherwise $120 million, of overall property credit a good.

UBS’ lookup, that was held ranging from July and you can August this current year, revealed that more a third away from participants, otherwise 34 percent, do not know how much cash its home loan repayments tend to go up by when they key in order to principal and you may appeal (P&I) contracts. (more…)