15 |
09 |
15
Be careful what you wish for
So, based on news just received, it would appear that ‘Interest Only’ mortgages are back in favour. Or at least with NatWest and RBS. If we remember correctly, these products last did service some three years ago before being abolished. But what short memories some people have! In fact, less than a week it would seem! It was then that the CAB published a report suggesting that there were “close to one million households” with existing interest only mortgages in danger of failing to repay the principal when their term ended, risking possible repossession.
Remember RBS and NatWest? We, as major shareholders, should. Was it not they who, with others, got us into the mess in the first place?
We all want the market to ‘kick-start’ but surely there must be another way,……..mustn’t there……?