Financial Conduct Authority looks at whether the product it once called a ‘ticking timebomb’ can support home ownership
They were once called a “ticking timebomb” but interest-only mortgages could become easier to get hold of as the Financial Conduct Authority (FCA) looks at ways to support home ownership.
Interest-only mortgages were hugely popular but almost became extinct following the 2007-08 financial crisis, with some viewing them as one of the worst examples of irresponsible lending.
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