It has perhaps gone a little bit quiet on the interest-only mortgages front. During 2013, interest-only mortgages were a hot topic - and at HML, we certainly haven't taken our foot off the pedal when it comes to customer contact campaigns.
In November I had the honour of sitting on a panel of experts at the Mortgage and Protection Event hosted by Mortgage Solutions in Birmingham, Manchester and Newcastle. Over the three days, hundreds of brokers attended to hear, and join in with industry leading experts debating the future of their marketplace.
Earlier this week Leeds Building Society announced it was introducing two completely new products aimed at the interest only market.
Other Interest-only articles
Leeds Building Society has introduced two and five year fixed-rate deals aimed at the interest-only market.
More than two thirds of the 6.3 million over 50s with an interest-only mortgage, who had intended to pay it off with an endowment policy say their underperforming endowment will not foot the bill, according to Saga Personal Finance.
Clearing mortgage debt is the most common reason over 55s have for equity release, lifetime mortgage specialist Stonehaven has found.
Peer-to-peer platform eMoneyUnion has completed the first ever first charge residential crowdfunding loan.
The Financial Conduct Authority published its first annual report last week reviewing its performance since it came into force on 1 April 2013, taking over from the Financial Services Authority.
The Family Building Society has launched with a range of mortgage products intended to allow families to financially support each other.
That a rate rise is on the way is a certainty. What effect this will have on borrowers' behaviour as they move to protect themselves from unpredictable and increasing payments is still an unknown.
Melton Mowbray Building Society has tightened its interest-only mortgage policy due to the high volume of applications it has received for this repayment type.
Almost two-in-three mortgage brokers say they would be interested in leading a drive to contact interest-only mortgage customers.
Roughly 130,000 customers have converted from interest-only to repayment loans in under a year, a 13% reduction in the number of interest-only borrowers from around 3.2m to 2.8m.
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