- A GROWING number of Sydneysiders are essentially taking on 40-year mortgages or a “life sentence” of debt after restarting their home loans when they find themselves unable to keep up on their original repayment plans.
Lending data reveals refinancers made up nearly 40 per cent of NSW mortgage transactions in the past financial year.
Many were restarting 30-year loan terms despite already being years into their mortgages.
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