Monday, October 31, 2011

Tick, tock

Interest-only mortgages are a "ticking time bomb"

Paul Holmes, chief executive officer of Firstrung, says "... property is not going to increase in value and people (mainly in the buy-to-let market) are going to be left with debt because they have got an interest-only mortgage. It is a time bomb without a doubt."

Posted by stuartking @ 08:12 PM (626 views)
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One thought on “Tick, tock

  • In other words renting from the bank, paying all the maintenance costs and possibly losing your deposit to boot.

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