FSA spells out long-term perils of interest-only mortgages


one in four borrowers now opt for these low-cost deals...

Thousands of homebuyers taking out low-cost "interest-only" mortgages could be storing up huge problems for the future - and putting themselves at risk of repossession - because they have little or no idea how they will pay back the loan, the Financial Services Authority warned yesterday.

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Posted: Thu - December 14, 2006 at 08:32 PM         | |

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