Property News · October 12, 2015

Interest-only mortgages are back, but you have to be wealthy to get one


Soaring house prices have tempted lenders to reintroduce the controversial home loans that were once seen as irresponsibleA flurry of lenders have returned to the interest-only mortgage market, but the move is unlikely to help homeowners who already rely on the controversial loans to ease their cashflow problems.These home loans enable people to keep their repayments down in order to afford sky-high property prices, with only the interest and not the capital paid back each month. They were seen as one of the worst examples of irresponsible lending in the years running up to the credit crunch, when their popularity soared. Continue reading…

Source : theguardian.com
Read more…Interest-only mortgages are back, but you have to be wealthy to get one

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