Interest-only mortgage repayment advice available from mortgage broker, Deal Direct.
If you are one of the estimated 1.7 million people who took out an interest-only mortgage in the lending boom, mortgage broker, Deal Direct, can offer you expert advice.
Research carried out by the Financial Conduct Authority revealed that more than 500,000 of those 1.7million homeowners are over 55 and are at severe risk of losing their homes. This is because only the interest has been paid on the loan amount and no provision has been made to pay back the outstanding debt.
With no means of paying back the debt, homeowners could find themselves in a very tricky position indeed. Ignoring the problem does not mean that it will resolve itself, which is why it is imperative you seek expert guidance sooner rather than later.
Seek our professional advice if you:
- have mortgage repayments you are struggling to meet
- have an interest-only mortgage with no endowment plan
- are looking for your first mortgage or to remortgage
With the proper mortgage advice from the outset and a full review of your financial circumstances, you can avoid giving yourself an excessive amount of worry. Solutions to current mortgage problems may also be found, setting your mind at rest.