Mortgage wake-up call 'working'

Press Association
PA
PA

%VIRTUAL-SkimlinksPromo%A wake-up call for the 1.3 million home owners who are feared to be at risk of being unable to repay their interest-only mortgage appears to be working, figures from lenders indicate.

The Council of Mortgage Lenders (CML) said people are "clearly taking action" to reduce the risk of being unable to repay their loan when it matures and the number of mortgages which are purely interest-only has fallen by 300,000 in the space of a year.