Thousands of interest-only mortgage borrowers face funding shortfall

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Hundreds of thousands of interest-only mortgage borrowers whose deals mature before 2020 are likely to face a funding shortfall, according to estimates produced for the Financial Conduct Authority (FCA).

As their mortgage terms end relatively soon, the FCA said lenders have agreed to contact "at risk" borrowers to implore them to check their plans for repayment and consider the options available to them....

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