Borrowers in denial over interest-only timebomb mortgages must act now, watchdog warns



Homeowners with an interest-only mortgage and no way to repay it when their term ends have been told stop burying their heads in the sand and face up to reality.
A stern warning from the UK financial services watchdog says there are 1.67 million people in Britain with either a part or full interest-only mortgage - equivalent to 17.6 per cent of mortgaged homeowners in the UK. 
Many of these borrowers are coming up to the end of their 25-year terms and have no idea how they'll repay their mortgage. 
But instead of contacting their lender to see what their options are, the Financial Conduct... read more

 
30 January 2018 in Business, Views: 42
Source: Daily Mail
Share:
 




News Widget for Webmasters


Realtime News

 

«
»
Mo Tu We Th Fr Sa Su
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31