Data from the credit bureau shows that defaults, however small, have increased in property repayments and mortgages in recent years.
Benay Sager, Chairperson of the National Debt Counsellors’ Association, told Independent Media Property that while it was still a very small increase, it has risen compared to a few years ago, driven largely by the pressure that homeowners are under.
“The movements are driven mainly by changes in the interest rates, and if you look at interest rates five years ago, they were very low in the midst of Covid.
Read the full article in The Star.