holding an empty wallet

It can be a worrying and stressful time if you're struggling to make your mortgage repayments. However, there are many things you can do to try and ease the pressure. If you're one of those homeowners struggling to make ends meet, it's essential to know that you're not alone. Several resources, programs, and strategies are available to help you stay afloat.

Here are some helpful strategies if you're struggling with mortgage repayments.

How to Keep Up When You're Struggling with Mortgage Repayments

First, stay in communication with your lender. If you're having difficulty making repayments, the last thing you want is for your lender to be in the dark. They may be able to offer you some flexibility or assistance, so it's worth having a conversation with them. 

Also, try and make additional repayments when you can. Even if it's just a small amount, every little bit helps. It will reduce the interest you pay over the life of the loan and may make it easier to meet your repayments in the future.

You may also consider refinancing. If interest rates have dropped since you took out your loan, you may be able to save money by refinancing. It could reduce your repayments and make them more manageable.

It’s also best to ensure you're budgeting correctly. Review your expenses and make sure you're not overspending in any areas. Cut back on unnecessary expenses and put enough money towards your monthly mortgage payments.

Finally, seek professional financial advice. If you're struggling to make ends meet, speaking to a financial adviser is a good idea. They can help you assess your situation and provide guidance on the best course of action.

What Your Lender Can Offer

Always remember that you're not the only one struggling to make your mortgage repayments. According to the latest figures from the Reserve Bank of Australia (RBA), around 1 in 10 Australians are currently in arrears on their home loan repayments.

If you're finding it challenging to keep up with your mortgage repayments, your lender may be able to offer you a range of solutions to help you get back on track.

One option your lender may offer is to extend the term of your loan. That will reduce your monthly repayments, giving you some breathing room to get back on track. However, it's important to note that this will also increase the total amount of interest you'll pay over the life of the loan.

Another option is to switch you to interest-only repayments. It will reduce your monthly repayments, but again, it will also increase the total amount of interest you'll pay over the life of the loan.

If you're struggling to make ends meet, it's important to remember that you have options. Contact your lender today to discuss the solutions they can offer you.


If you're struggling with mortgage repayments, you can do several things to ease the financial burden. You can speak to your lender about changing the terms of your loan, or you can consider selling your home and moving to a more affordable property. You can also look into government assistance programs to help you keep up with your payments. Whatever you do, don't ignore the problem or try to hide from your lender because this will only worsen things. Be proactive and take steps to improve your financial situation.

Wealthy You is a mortgage company in Australia that has been servicing Sydney for almost a decade. We are your best mortgage brokers with a lot of experience offering various mortgage solutions, such as alternative mortgage funding, to meet your specific financial needs. Contact us today!