Interest only? What’s your plan?

A warning has been issued by UK Finance about interest only mortgages. The real boom for this was in the period between 2003 and 2009 when many signed up to mortgages with these low payment levels. The downside, of course, is the full balance need to be repaid and that time could be fast approaching for many. The good news is for most the value of their property will probably have gone up in this time and by contacting their mortgage company at this point they should have options available to them. If you’re unsure of the value of your home feel free to contact us for a free, no commitment, valuation.

For the full story visit the BBC website here


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