"Shortfall fears for interest-only mortgage holders"
May 2, 2013 5:19 AM Subscribe
"More than a million people
with interest-only mortgages face a financial crunch when they have to pay them off, a watchdog is warning.
Some 2.6 million UK householders have the mortgages but the Financial Conduct Authority said estimates suggested that nearly half would not have savings or other funds to cover the final bill.
The average shortfall is £71,000, according to FCA research."
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