Mortgages  

Interest-only mortgages: Plugging the gap

    CPD
    Approx.40min

    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.

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    CPD
    Approx.40min

    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. What is the average shortfall for interest-only mortgage holders in the UK?

    2. Which bank or building society still offers interest-only mortgages?

    3. What percentage of interest-only mortgage holders are expecting a shortfall?

    4. How many people have no repayment strategy in place?

    5. The FCA has made contact with interest-only mortgage holders whose term ends between now and when?

    6. When will the MMR take effect?

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