Deals still of interest
INTEREST-ONLY mortgages can still be a good choice for some borrowers, despite such deals increasingly becoming seen as niche products, a lending body has said.
The Council of Mortgage Lenders (CML) said that despite their general decline, interest-only deals remained the norm for buy-to-let borrowers and could also help people with a firm plan to pay the loan back.
At the peak of their popularity in the late 1980s, interest-only mortgages accounted for more than 80 per cent of loans taken out, but this year lenders are likely to advance 40,000 new interest-only loans for home purchase, less than 10 per cent of the total.
Interest-only mortgages allow borrowers to pay off the capital only when the mortgage term ends, enabling them to maximise their borrowing capacity, but they have become much more thin on the ground since the boom years amid concerns about people not being able to pay back their debt.
Business Cards From Only £10.95 Delivered www.myprint-247.co.ukView details
Our heavyweight cards have FREE UV silk coating, FREE next day delivery & VAT included. Choose from 1000's of pre-designed templates or upload your own artwork. Orders dispatched within 24hrs.
Terms: Visit our site for more products: Business Cards, Compliment Slips, Letterheads, Leaflets, Postcards, Posters & much more. All items are free next day delivery. www.myprint-247.co.uk
Contact: 01858 468192
Valid until: Friday, May 31 2013