I’ve bought an interest-only mortgage and no method to clear it: LUNCH MONEY
- How huge is the interest-only mortgage timebomb – and what can individuals do?
- What the CMA discovered on ‘greedflation’ and why it is probing loyalty schemes
- Why the gold value has climbed – and might it hold rising?
The interest-only timebomb going through some owners has been a significant concern for some years within the mortgage market.
It refers to a sizeable chunk of debtors with interest-only mortgages and no plan to repay them.
In the previous these affected tended to be these whose endowment insurance policies hadn’t carried out effectively sufficient to clear their money owed, however the early-2000s increase additionally created a piece of householders who debtors tempted to borrow huge on interest-only by banks, with no plan of tips on how to pay that off.
On this episode of Lunch Money, Simon Lambert and Helen Crane, of This is Money, look how unhealthy the interest-only crunch may be for debtors, how huge an issue that is and what individuals can do.
Plus, they think about a query from a reader who has an interest-only mortgage and no method to pay it off.
Also on the present, the competitors watchdog revealed this week proof of one thing many people had lengthy suspected, huge title client manufacturers indulging in so-called ‘greedflation’.
The staff take a look at how this has pushed up costs and made the price of residing disaster worse – and likewise why the Competition and Markets Authority will probe Nectar and Clubcard Prices.
Later, Victoria Scholar, of interactive investor, appears at why the value of gold is rising and whether or not this could proceed.
And lastly, they have been written off within the pandemic however airline shares have bounced again, so what do easyJet’s newest outcomes inform us?
