A new breed of interest-only mortgage for older people is
starting to take off. These deals could throw a lifeline to thousands of people
who have an interest-only home loan that’s coming to an end, but don’t know how
they are going to pay back what they owe. Interest-only mortgages became
virtually extinct following the credit crunch. During the past few years some
older homeowners with these mortgages have found themselves staring down the
barrel of a big shortfall and worried they could lose their homes. The
Financial Conduct Authority last year gave the green light to a new type of
interest-only deal known as “retirement interest-only” mortgages and are a
little more pricey than standard home loans. Read more on the Guardian website.
Rosa Parks’ vacant former home is an emblem of racist housing policies |
Bernadette Atuahene
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Seventy years after the Montgomery bus boycott, policies hiding in plain
sight continue to ravage the Black community
Friday is the 70th anniversary of t...
19 hours ago
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