The Financial Conduct Authority (FCA), which in a week takes over the work of the Financial Services Authority (FSA), is worried that about 4 million homeowners on interest only mortgages will be in dire financial straits with payments on capital due soon. The situation is being compared to the 1990 negative equity trap and the […]
Tag: interest only mortgages
Zoopla survey looks at the benefits of interest only mortgages over renting
Some recent research which has been created by the popular property website, Zoopla, has shown that it could be cheaper for people to maintain an interest only mortgage than it is for them to rent property in the vast majority of towns around the country. For example, the cost of renting a two-bedroom flat outside […]