Have I read this right?

macaque_2

Thousands of those approaching retirement or in retirement who are reaching the end of their mortgage term seem to be turning to equity release to head off their interest-only timebomb.

http://www.thisismoney.co.uk/money/news/article-2375221/Homeowners-release-500m-equity-properties-mortgage-crunch-creeps-closer.html?

Radiantsoul

Is that so wrong?
Presumably it is best to die in debt.

antrobus

Yes, you've read it right. 'Thousands' of people are facing up to their 'interest-only timebomb'. Not tens of thousands, not millions, just thousands.

And it's obviously not that much of a timebomb if you can just roll it forward.

Thrugelmir

antrobus wrote: »

Yes, you've read it right. 'Thousands' of people are facing up to their 'interest-only timebomb'. Not tens of thousands, not millions, just thousands.

And it's obviously not that much of a timebomb if you can just roll it forward.

According to the table 9,541 plans. Of which over 20% were in London & the South East.

This bomb is a dud. The real issues lie elsewhere.