Many Australians who are currently paying off a mortgage for their home have more than 50% equity in their property – money that could set aside for retirement funds, new investments, or personal needs and emergencies that could arise at any minute.
NGS Crypto Can Help You Extend Your Mortgage Holiday
The ongoing COVID-19 pandemic has caused a fair amount of upheavals felt by people employed in all sectors – including the financial sector.
At the start of the pandemic, Australians were offered a 6 month mortgage holiday – with many jobs at risk, small businesses closing and so on, this measure was a breath of fresh air for anxious homeowners.
Banks are starting to contact borrowers in order to request that mortgage payments resume.
Over 900,000 loans have been put on hold since March, and half of these mortgage holidays are being examined these weeks.
262,000 of these are home loans, of which 80,000 will be assessed before the 30th of September, and 180,000 by the end of October.
Over 105,000 business loans to small and medium businesses have been deferred – and 65,000 of these will be assessed by the end of September – with the remaining loans being assessed in October.
Although most of the uncertainty regarding personal income has been dispelled, many Australians still feel a better fall-back strategy could have been a blessing.
Luckily, NGS Crypto can help you extend your mortgage holiday.
NGS Crypto – a consumer-friendly mining platform based in Sydney – also offers mortgage holiday packages to help crypto enthusiasts refinance their mortgage.
Members of NGS Crypto receive their returns daily, paid into their accounts on the platform.
Although some may choose to withdraw their earnings from the platform at the end of the month, most users prefer to withdraw weekly – a practice that can greatly reduce the amount of interest paid to the bank, when coupled with one of NGS Crypto’s Mortgage Holiday packages. If you’re looking to spruce up your budget without dealing with the hassle of traditional banking, NGS Crypto financial advisors are always available for a chat – see which of their services could increase your monthly revenue.