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The Guardian - AU

National

Jonathan Barrett Senior business reporter

‘Setting people up to fail’: Australians ask banks for mortgage help, only to plunge into worse debt

Australia ANZ

Real estate listings Australia — Australians are falling behind on their mortgages in ever-increasing numbers, as a prolonged period of elevated interest rates and high living costs erodes saving buffers. Photograph: William West/AFP/Getty Images

Patricia makes sure her cats are properly fed, but rarely spends much money on herself.

“I’m scrimping as much as I can, and I’ve sold a few household items to try to meet my mortgage repayments,” the 68-year-old says.

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