An Australian Mortgage is a very specific financial technique that is meant to help homeowners pay off their mortgage at an accelerated rate. The Australian Mortgage is also referred to as a Flexible mortgage, Offset Mortgage or Mortgage acceleration.

Contents 1 History 1.1 UK 2 The Australian Mortgage Scam 3 See also 4 References

[edit] History

The flexible mortgage first appeared in Australia in the early 1990's, however it did not gain popularity until the late 1990's. This technique has gained popularity recently due the United States housing bubble.^[1]

[edit] UK

The Australian mortgage has gained popularity in the United Kingdom in 2008/2009 in part because of the financial crisis caused by the United States housing bubble.^[2][3]

[edit] The Australian Mortgage Scam

There is a lot of controversy to the validity of this type of mortgage. In Australia the Australian Securities and Investments Commission (ASIC) has taken sever steps of action to reduce fraud with mortgage acceleration. ^{[4] [5][6]}

[edit] See also

• Flexible mortgage
• Offset Mortgage
• Mortgage acceleration

[edit] References