Financial Times - Wealthy UK borrowers face interest-only mortgage payment shock
Wealthy borrowers in the UK with large interest-only mortgages face a punishing jump in payments — leaving them potentially paying thousands of pounds a month more — as they come off fixed-rate deals in a rising interest rate environment.
Aaron Strutt of Trinity Financial, told the Financial Times: “Some people prefer to reduce their monthly payments and so go for interest-only rates and instead invest their money in property or the stock market.”
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