Interest-only mortgages become a ticking time bomb | moneyfacts.co.uk

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Published: 05/10/2016

Interest-only mortgages can often seem appealing at first glance. After all, you're initially only paying back the interest of the loan, which means monthly repayments are far less than with a full capital and interest arrangement. You'll of course have to repay the full mortgage eventually, but that's years away, right? Well, for many interest-only borrowers, the deadline is closer than they'd like.

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