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Home owners to be moved off interest-only mortgages
Comments
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MissMoneypenny wrote: »"Borrowers without sufficient equity in their homes are being moved onto repayment deals once their initial deal has come to an end."
Will that include BTLers too or are they protected as they are treated as investors? Either way, it's not so good for those landlords on interest only mortgages, who are letting without their lenders consent.:D
BTL mortgages are commercial loans. The T&C's of such are different to residential loans.
More of an issue for Consent to Let investors who could be forced to find capital repayments they are unable to fund. On top of increased interest/charges that are now being imposed.0 -
i guess you could consider downsizing to one of those properties that is for "over 55s" only. they are quite a bit cheaper than standard properties. i've often wondered how they police the ages of the people living in them.Those who will not reason, are bigots, those who cannot, are fools, and those who dare not, are slaves. - Lord Byron0
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