Interest-only mortgages were once seen as a great way to get onto the housing ladder. Paired with a repayment vehicle, borrowers were confident that, at the end of the mortgage term, full capital would be paid off.
As long as a client can commit to full repayment at the end of the term, interest-only mortgages used responsibly can offer great flexibility. But for those facing a shortfall, the sooner it is tackled, the better.
