Wake-up callPosted: May 3, 2013
The interest-only mortgage is the housing scandal that just keeps coming back.
In the 1980s it was all about the mis-selling of endowment mortgages. In the 2000s it was about selling as many mortgages as possible without caring too much about whether there was a way to repay them. In the 2010s and 2020s it will be about dealing with the consequences – and who pays for them.
Read the rest of this post on Inside Edge, my blog for Inside Housing