One Million Interest Only Mortgages At Risk
Published / Last Updated on 15/03/2012
One Million Interest Only Mortgages At Risk.
Managing director of the Financial Services Authority (FSA) conduct business unit, Martin Wheatley, confirmed in a Treasury Select Committee that tougher lending criteria meant that over one million interest-only borrowers over the age of 50 may not be able to remortgage or move on when their mortgage term ends over the next 10 years.