The Sunday Times - Trapped by lenders' lack of flexibility
Readers tell of draconian rules that have stopped them changing their mortgages
Last week, Money reported on the problems facing homeowners, particularly older people, who have interest-only mortgages. We asked you to tell us about your own experiences — and you did.
Aaron Strutt of the broker Trinity Financial said, told The Sunday Times: “Many older borrowers are worried about paying off their interest-only mortgages, particularly when their terms come to an end.
“Many of the calls we are getting are from borrowers with a couple of years left to run on their mortgages. They are often looking for another deal to give them some time to come up with a repayment strategy.”
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