Australians Face Repayment Shock on High-Risk Mortgages

Sydney mortgage broker Luke Gardiner, who started his business just last year, is already overwhelmed with customers.

“There has not been a slow period in the last 12 months,” said the broker, whose Gardiner Financial Services Pty arranged more than A$5 million ($4.5 million) in mortgages in both June and July, about A$1 million more than in May. “I’ve been waiting for a break, but it hasn’t come.”