There is a growing belief that interest-only mortgages that have been sold over the past fifteen years or more may have been mis-sold to home-owners. Half of all mortgages in London and up to 3.8m nation-wide are thought to have interest-only products and many are thought to have no way of paying of the principle sum when the mortgage term ends.
I’m discussing this and the potential impact with the team at MoneyWise.co.uk.
2012-12-19