The FCA’s warnings about interest only mortgage holders are a sad read. http://www.bbc.co.uk/news/business-22366821 As I have written before that The FCA and its predecessor should promote independent financial advisors who are also qualified mortgage brokers. IFAs will explain all of the implications and frequently will tell people that their initial plans are not affordable and make decisions well informed. As an IFA and mortgage broker in London I have given advice not to proceed with initial plans. What a pity the Banks 10 years ago did not stop and help people plan.
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