Summary
Nearly half of people with interest-only mortgages have no investment in place to repay the money they owe, research showed yesterday.
Around 2.9 million homeowners are on interest-only deals, but 45 per cent of these are not contributing to an investment to repay the capital they have borrowed, according to investment group LV=.See the full content of this document
Extract
Interest-Only Borrowers Facing Trouble, Says Survey
Instead 41 per cent of people are planning to repay the money they owe by selling their house and cash...
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