A ‘mortgage cliff’ is the slightly dramatic phrase used for describing the huge increase in mortgage payments that many Australians are facing as they shift from low-fixed rate loans set up during the pandemic period to the much higher variable (or fixed) rates now available. This module is designed to assist those facing a potential mortgage cliff including:
How did we get to the mortgage cliff?
A worked example of a mortgage cliff
Considerations when preparing for a mortgage cliff
Options if you may be unable to service the higher repayments
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AskESSSuper is licensed by Guideway Financial Services Pty Ltd Australian Financial Services Licence number 420367, ABN 46 156 498 538. The information within this website is for Australian residents, is general advice, and does not consider your financial situation, objectives or needs. You should therefore consider the appropriateness of this information in light of your own situation before making a decision. If the advice is about a particular financial product, please refer to the Product Disclosure Statement and other relevant documents available from esssuper.com.au before deciding. Please ensure you read and retain a copy of the Guideway Financial Services Guide for this website.
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