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