From remortgaging to speaking to your lender,there are a number of ways borrowers can ensure they withhold their homeIt is the mortgage that has been labelled a ticking timebomb. The City regulator recently warned about the meaningful number of people with interest-only mortgages who are in danger of losing their homes as they may be unable to repay what they owe at the end of the loan term.
Following the latest alarm bell from the Financial Conduct Authority (FCA), consumer groups are now working to serve people with interest-only mortgages - some of whom are avoiding talking to their mortgage provider - to resolve the situation.
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Source: guardian.co.uk