Interest-only mortgages: Plugging the gap


    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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    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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