Tuesday, March 13, 2012
Reading between the line the title disguises the intent with this one
This is an article in disguise as the content from half way down is far more interesting than the title suggests. The regulator (FSA) is "monitoring closely" the repayment of interest-only mortgages which are due be repaid over the next five to 15 years and will looking at the fair treatment of those customers whose mortgages mature but who cannot repay the capital. The graphs, Arrears and Repossessions and Mortgage Maturities are also interesting as is the regulators hint that bank customers should somehow (via account charges) subsidise bad mortgages and those in 'forbearance' who amount to some 8% of mortgage holders!