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How We Helped a Client avoid the Mortgage Cliff
At OCEAN Lending, we recently had the opportunity to assist a client facing much higher repayments the end of a fixed rate period, often referred to as the Mortgage Cliff. With interest rates on the rise, they were understandably concerned about potential increases in their monthly payments. Our goal was to help them secure better…
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The Mortgage Cliff
Already this year we have helped a few clients avoid what has been referred to as the ‘mortgage cliff’. In short, the term ‘mortgage cliff’ refers to ‘when a borrower comes off a low fixed rate say at 2% and then their repayments jump to around 5.5% (in the current market)’. Recently, we worked with…
