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We chose a variable rate for a long time as when interest rates were low it was the far better deal and stayed that way for years. In the past year the cash rate in Australia has jumped from 0.10% to 3.6%, which it hasn't been at since 2012, with more interest rate increases expected up to maybe 4.2%, maybe higher. Had we fixed our rates a year ago we'd be in better position, but still paying significantly more than the outlook when we took on the mortgage. At the moment we're paying about $600 more per month, a 20% increase on our repayments. Combined with huge cost of living increases and us losing our childcare benefit as my older daughter turned 6, and something had to give. Unfortunately all the inflation and interest rate hikes have made this possibly the worst time to sell.

Can I infuriate you even more?

As my wife and I were not on PR Visa's at the time of purchasing our place in Tokyo, our rate was 3.4% for 30 years. After we got our PR Visa's and a 5 year penalty period ended (would have had to pay 5% of the total loan to go to another bank within the initial 5 years), we refinanced with another bank at the "Japanese" rate. 35 years fixed at 0.8%. Regardless of inflation. So we will always pay 0.8% of the amount we refinanced at last year. Our mortgage is half than what we were paying in rent when we first got here.

So, how many grid penalties for Ferrari this weekend?