ONE in three borrowers with interest-only home loans don’t even realise they have them, according to a UBS survey highlighting how little Australians know about their financial situation and raising fresh concerns about the potential impact of interest rate rises.
The investment bank also found nearly a quarter of interest-only borrowers who are already under high stress are considering selling their property, while 17 per cent will need to draw down other lines of credit to meet higher interest rates.
A UBS survey has found 1 in 3 borrowers with interest-only home loans don’t know they have them.
READ MORE VIA REALESTATE.COM.AU