Tuesday, Jan 30, 2018

Smart or Stupid - I can't decide

BBC: Borrowers ignoring mortgage timebomb, says FCA

The FCA are warning about the number of interest only mortgages which will reach the end of their term in the future.
Interesting to read the comments with many people saying an IO mortgage is cheaper than renting and with rising prices their equity has been increasing in some cases by enough to buy a cheap property when they downsize.
Of course timing is everything. A interest only mortgage in the early 1990s would have been a disaster. Since then it could have been a smart move.

Posted by tenyearstogetmymoneyback @ 10:24 PM (2416 views) Add Comment

1 Comment

1. jack c said...

Stupid - on a grand scale !

Friday, February 2, 2018 04:35PM Report Comment

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