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Interest-only mortgages lasting into retirement launched by building society


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Older home-owners are being given more borrowing options, as a building society launches a new range of retirement interest-only mortgages.

 

Leeds Building Society said it is entering the market, with the new deals initially being made available through brokers.

 

Interest-only mortgages allow people to make regular interest payments on a loan, without paying off the loan itself – but the capital must be eventually paid off.

 

Leeds’ new mortgages are being offered to borrowers aged 55 to 80.

 

https://uk.yahoo.com/finance/news/interest-only-mortgages-lasting-retirement-230100829.html

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