Daily Mail - Have an interest-only mortgage deal? Expect a hike in repayment costs as more banks decide to axe low-cost plans

by Aaron Strutt

Mar 27 2013

HSBC and Yorkshire Building Society have become the latest big names to limit the sale of home loans where the borrower repays only the interest.

Aaron Strutt, a broker at Trinity Financial, told the Daily Mail: "This is the final nail in the coffin for interest-only. There are very few lenders offering this kind of loan. Anyone who needs one must act now or risk a hike in their repayments."

A spokesman for HSBC told the Mail: "Currently, the majority of HSBC's interest-only mortgage customers qualify for Premier."

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March 27, 2013