The end for interest-only mortgages?

Hannah Ricci
Updated

Ian Nicholson/PA

Interest-only mortgages have been pulled further out of reach for borrowers this week, with Lloyds Banking Group becoming the latest provider to tighten its lending rules.

The group, which includes Lloyds TSB, Halifax and Cheltenham & Gloucester, has issued strict criteria for interest-only products by limiting the assets it will accept to repay a loan at the end of the mortgage term. So is this the beginning of the end for interest-only deals?

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