19 Juil Once the attention-just home loan crisis strikes, heres how you can steer clear of the misery
Len and Val Fitzgerald may not be the final people to see themselves gazing along the probability of losing their house. The couple, away from Eastbourne into the Eastern Sussex, discover themselves from the spotlight a week ago when you look at the a situation and that highlights the new drama related to Britain's notice-simply mortgages once they came up Santander got revealed repossession proceedings up against him or her, while they never ever missed a mortgage cost.
He's away from by yourself. You'll find regarding step 1.67m interest-just mortgage loans a fantastic in the uk. But just like the Fitzgeralds deal with the prospect to be tossed aside to the road according to their MP Stephen Lloyd, you can find points that someone else perform so you're able to stave off it hazard.
New wide problem
There are numerous warnings from the attract-just mortgage loans in recent times. Only weeks hence, area of the Uk regulator the brand new Monetary Perform Power (FCA) told you it was most concerned you to definitely a great number interesting-simply customers may not be in a position to pay off the main city at the the termination of the borrowed funds and be at risk of losing their houses.