Young homeowners are more likely to use their home as an ‘ATM’ than their Boomer parents. Here’s why

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For many Australians, the family home is their largest financial asset. With an increasing variety of ways to tap into home equity, the temptation to access this wealth is ever growing.

Homeowners increase the debt owed on their home when they borrow against their equity. Standard mortgage home loans now provide facilities for relatively cheap or free withdrawals of equity from the home.