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Families struggling as interest rates rise

Interest rates are expected to climb further when the Reserve Bank of Australia meets next week, with many people on edge to see just how much it is going to hit their hip pocket.

Nicola Alexander and her husband Bryan are among those waiting to see what happens.

The Perth couple work alternate weekend days to pay their bills and feed their three children, aged between eight and 14.

“I work Saturdays and he works Sundays … we sacrifice quality time with the family to manage,” she told NCA NewsWire.

Until recently, the family had a home loan with Keystart, with their lowest interest rate of 4.36 per cent.

Keystart is the West Australian government’s lending provider that offers low-deposit home loans to those unable to meet the deposit requirements of mainstream lenders.

“We had a shared equity loan where Keystart owned 20 per cent of our property, so realistically our loan…

Read more at www.news.com.au

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