Financial Conduct Authority looks at whether the product it once called a ‘ticking timebomb’ can support home ownership

They were once called a “ticking timebomb” but interest-only mortgages could become easier to get hold of as the Financial Conduct Authority (FCA) looks at ways to support home ownership.

Interest-only mortgages were hugely popular but almost became extinct following the 2007-08 financial crisis, with some viewing them as one of the worst examples of irresponsible lending.

Continue reading…Mortgages, Money, Property, Financial Conduct Authority, UK news, Regulators, Housing, BusinessRead More

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