September 2015

One million interest only mortgage borrowers have no plan to repay capital

New research by Citizens Advice Bureau reveals that almost one million homeowners in the UK currently have an interest only mortgage with no plan to repay the capital element of the loan when the loan term ends.

The research, which was carried out by YouGov, also revealed 1.7 million people have no linked repayment vehicle, such as an endowment or ISA.