Property News · June 25, 2016

The interest-only mortgage is back, but you’ll need to clear a few hurdles


First-time buyers will benefit from lower monthly payments, but they will need to have a repayment strategyThey almost became extinct in the wake of the credit crunch, and were once branded a “ticking timebomb” by the City regulator. However, interest-only mortgages have begun moving back into the mainstream.This week an Essex-based building society announced that teachers, doctors and lawyers are among the professions being offered the chance to sign up for a mortgage on an interest-only basis. Continue reading…

Source : theguardian.com
Read more…The interest-only mortgage is back, but you’ll need to clear a few hurdles

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