British families owe £200billion to High Street lenders on interest-only ...

Families owe more than £200billion to lenders on interest-only mortgages  Nearly a quarter of all mortgages from major banks are interest-only  It means millions of customers face a huge bill when their loan term ends

By Daily Mail Reporter

Published: 00:32 BST, 2 June 2018 | Updated: 00:33 BST, 2 June 2018

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Families owe more than £200billion to the big High Street lenders on interest-only mortgages – sparking fears of a new debt timebomb.

Nearly a quarter of all mortgages from major banks and building societies are interest-only, analysis by the Mail reveals.

It means millions of customers face a huge bill when their loan term ends and they have to repay the initial amount they borrowed in a lump sum.

Families owe more than £200billion to the big High Street lenders on interest-only mortgages – sparking fears of a new debt timebomb 

Families owe more than £200billion to the big High

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