Summary
Homebuyers on interest-only mortgages might find this a good moment to switch to a repayment loan, says Cath Hearnden of independent mortgage advisors My Mortgage Direct.
Of the 1.3 million borrowers who are on interest-only loans, many won't have capital available at the end to pay off the loan. Switching to a repayment loan steadily reduces the debtand reduces the chances of negative equity.See the full content of this document
Extract
Right Time to Switch ; Personal Finance
My Mo...
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