I’ve got an interest-only mortgage – and no way to pay it off: LUNCH MONEY
- How big is the interest-only mortgage time bomb – and what can people do?
- What the CMA found about ‘greedflation’ and why it is investigating loyalty programmes
- Why has the gold price risen – and can it continue to rise?
The repayment time bomb that some homeowners are facing has been a major problem in the mortgage market for several years.
It affects a significant proportion of borrowers with an interest-only mortgage and no plans to repay it.
In the past, those affected were usually those whose capital policies had not performed well enough to pay off their debts, but the boom of the early 2000s also saw a share of homeowners tempted by the banks to borrow a lot at only interest, without any form of financing. plan to pay it off.
In this episode of Lunch Money, Simon Lambert and Helen Crane, from This is Money, look at how bad the interest rate crisis can be for borrowers, how big a problem it is and what people can do.
In addition, they are considering a question from a reader who has an interest-only mortgage and cannot pay it off.
Also on the show this week, the competition watchdog revealed evidence of something many of us have long suspected: major consumer brands indulging in so-called “greed inflation.”
The team investigates how this has driven up prices and worsened the cost of living crisis – as well as why the Competition and Markets Authority will investigate Nectar and club card prices.
Later, Victoria Scholar, from interactive investor, looks at why the gold price is rising and whether this can continue.
And finally, they were written off during the pandemic, but airline stocks have recovered. What do easyJet’s latest results tell us?