Bank ends interest-only mortgages without documentary evidence - Telegraph
Now, stick in £500K for into a mortgage calculator (a cheap house near London for a FTB) and look at the repayment for interest only versus actually paying off the debt over 25 years. A big difference.
Britain’s biggest mortgage lender has announced the end of interest-only mortgages without documentary evidence of how the loan is going to be repaid.
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Other lenders have also tightened their policies on interest-only mortgages this year, with RBS and Coventry Building Society no longer offering this type of deal to first-time buyers.
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Other lenders have also tightened their policies on interest-only mortgages this year, with RBS and Coventry Building Society no longer offering this type of deal to first-time buyers.
Now, stick in £500K for into a mortgage calculator (a cheap house near London for a FTB) and look at the repayment for interest only versus actually paying off the debt over 25 years. A big difference.
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