Wednesday, November 19, 2008

And since most BTLs are “interest only”…

Interest-only mortgage borrowers forced to sell as property prices fall

"Around 1.3m homeowners with an interest-only mortgage could be facing financial problems, research claims today." These are mostly BTLs, who in the past bragged to have made a fortune but will soon lose a fortune "If the UK does become blighted with deflation, not only does it mean people hold on for lower prices on cars, houses and big ticket items, it also means mortgages will grow relative to wages and other prices" BTL = Buy To Debt

Posted by confused76 @ 01:30 PM (553 views)
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