Shrinking Number of Homeowners Sitting on Interest-only Mortgages, Figures Show

Shrinking number of homeowners sitting on interest-only mortgages, figures show

UK Finance said there were around 150,000 fewer mortgages on interest-only terms at the end of 2024 than at the start.

The number of homeowners using interest-only mortgages

With interest-only mortgages, borrowers only pay the interest on their debt, rather than paying down the capital

Interest-only mortgage stock reduces by 17 per cent in 2024

Are lenders still offering interest-only mortgages?

Would an interest-only mortgage be a suitable solution for a remortgaging homeowner worried about high mortgage rates? And if so, are they still available for residential borrowers? Darren Polson clears things up… The post Are lenders still offering interest-only mortgages? appeared first on what MORTGAGE.