Strug­gling to pay mort­gage

Townsville Bulletin - - Investor -

MORE than 1000 home own­ers are strug­gling to re­pay their mort­gages af­ter cy­clones and flood­ing wreaked havoc across Queens­land, a ma­jor mort­gage in­surer says. Gen­worth Fi­nan­cial, which is­sues len­ders mort­gage in­surance, has re­ported a 70 per cent rise in ‘‘ hard­ship ap­pli­ca­tions’’ over the past quar­ter, with Queens­land res­i­dents ac­count­ing for the ma­jor­ity of the claims. Gen­worth chief ex­ec­u­tive El­lie Comer­ford said the af­ter­math of floods across the east coast and bush­fires in West­ern Aus­tralia was caus­ing great concern. ‘‘ They are re­ally im­pact­ing on the over­all con­sumer sen­ti­ment in terms of con­fi­dence and out­look,’’ Ms Comer­ford said yes­ter­day.

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