Mortgage Introducer: What the papers say

This is a very low quality article - collection of information from mortgage trade press, but a very truthful account of how the mortgage industry is screwing Britain. "5 years ago interest only mortgages accounted for 5 per cent of new mortgages, today they account for 26%. Heron asks whether borrowers, lenders and advisers are storing up problems for the future by selecting interest only payments. He says that if there were evidence of significant numbers of consumers taking interest only loans solely because they are cheaper and without considering how to repay it, there would be grounds for concern. Griffiths says: “No disrespect to John Heron...but why else would borrowers take out interest only deals? They make a larger property affordable..." PUNTERS!!