IN A COUPLE of consecutive editions, a little over a year ago, I addressed the subjects of a) Interest Only Mortgages and b) Lifetime Mortgages. In an effort to avoid the increasingly depressing Brexit saga, and the increasingly desperate pledges from the two remaining candidates vying to become the new holders of the poison chalice, I thought I would write a few updated paragraphs on what is often referred to as ‘Later Life Lending’ (LLL). Continue reading Later Life Lending
Tag Archives: interest-only mortgage
Interest-Only Mortgages
In this article David Foot addresses the issue of interest-only mortgages, and, more specifically, a shortfall of funds with which to repay them when they fall due.
This is inspired by a case that I have been dealing with recently. My client, a lady in her mid-forties, was sold an endowment mortgage; an interest-only borrowing facility with a life assurance and savings plan alongside, intended to provide the requisite life cover, and a tax-free lump sum enough to repay the borrowed amount, and, hopefully, a tidy little nest-egg over and above that. Continue reading Interest-Only Mortgages
The Whistler 