With news that over 1m interest-only mortgage holders have no final repayment plan, does this change your view of interest-only mortgages?
A report by xit2 found that over a million interest-only mortgage holders have no repayment plan, with £116bn of these mortgages set to mature over the next eight years.
At its peak the interest-only market constituted around 30% of all new house purchase loans, a number which has now fallen to 10%.
But does the fact over 1m interest-only mortgage holders have ‘no repayment plan’ put you off recommending these products to new borrowers?
Have you say in our poll HERE.
