One in ten ‘overly optimistic’ on repayment of interest-only mortgages

New analysis by the Financial Conduct Authority (FCA) has found that one in ten interest-only mortgage holders might be ‘overly optimistic’ about repaying their debt when the time comes. The number of interest-only (750,000) and part-interest-only (245,000) mortgages has halved since 2015, new Financial Conduct Authority analysis has found. The fall is a result of…

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Over 1.4m households face mortgage repayment rises

More than 1.4 million households face mortgage repayment rises this year with millions of homeowners  at risk of defaulting on their mortgage if interest rates move upwards again according to new research from Moneyhub Decisioning. Moneyhub’s research found that a quarter (26%) of homeowners with a mortgage said that a further interest rate rise would…

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One in six will still be paying their mortgage after they hit 65

More than one in six people expect to be over the age of 65 by the time they repay their mortgage (17%). Almost one in ten expect to be over 70 – or never to pay it off (9%) according to new research conducted by Opinium for Hargreaves Lansdown. Among those who were aged 55…

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Mortgage crunch deepens with £15.8bn repayments rise

Signs that inflation is proving stickier than expected have raised market expectations for how high the Bank of England will raise interest rates, with total annual mortgage repayments now on course to rise by £15.8 billion by 2026, and by £2,900 for the average household re-mortgaging next year, according to new research published by the…

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More than half of mortgage holders struggling with mental health

A new survey of homeowners who pay a mortgage, conducted by independent market research firm Danebury Research on behalf of global technology specialist Dye & Durham, fas found that the ongoing cost of living crisis is affecting the mental health of more than half (56%) of UK mortgage holders who have genuine concerns over their…

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One in three over-55s say cost of living has impacted mortgage repayment plans

Latest tracking research from equity release adviser Key highlights that 30% of over 55s believe that their ability to repay their mortgage will be hindered due the cost-of-living crisis, equating to around 879,000* people’s mortgage plans being derailed. Of those 3.3 million over-55s who have yet to repay their mortgage, 16% say they plan to…

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Mortgage repayments just behind energy bills as second largest annual cost

The monthly cost of repaying a mortgage has seen the second largest annual spike, with just energy bills increasing at a greater rate according to research by Revolution Brokers. The research analysed the annual increase in a number of household costs, from energy bills to mortgage payments, water and sewage and food and drink, to…

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One in three mortgage customers fear unaffordable repayments due to rate hikes

One in three mortgage customers say that rising interest rates mean they cannot afford their repayments, new research commissioned by Butterfield Mortgages has found. The independent survey of 2,000 UK adults found that a third (33%) of mortgage holders believe the interest rate hikes over the past year have made their mortgage repayments unaffordable. Among…

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