Interest-only mortgage deals in the mainstream residential market are in decline, research suggests.
According to Paragon Mortgage's Fact research - a panel-based survey of over 200 financial advisers - interest-only deals accounted for just 23% of mortgages introduced during the third quarter of 2008. This was down from 26% in the first quarter of the year and the second survey in succession that has shown a decline. Prior to this, the last recorded fall in the proportion of interest-only mortgages was in the first quarter of 2004. Conversely, repayment deals have risen after a long period of decline. Repayment deals accounted for 60% of mortgages introduced in the third quarter. Repa...
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