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Drop in borrowers seeking super relief

By Staff Reporter
23 November 2009 | 1 minute read

There’s been a sharp fall in the number of borrowers that have had to tap into their superannuation in order to meet mortgage repayments.

According to a report in today’s The Australian Financial Review, the number of applications for early access to super savings dropped 12 per cent last year to 17,918 – the lowest level since 2005-2006.

Overall, the total amount released to borrowers facing mortgage foreclosure fell from $174 million last year to $145 million in 2008-09.

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Drop in borrowers seeking super relief
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