From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

There will be peaks in the coming years when many interest-only mortgages will reach maturity. We develop and promotes industry-wide strategies and good practice on working with interest-only borrowers, to minimise the number who reach maturity without adequate repayment plans. 

Interest-only mortgages

Last updated: 28 November 2016

Though new interest-only lending is less common these days, many lenders still have substantial back-books of interest-only loans. FCA research indicates many of those who have these loans may not be able to meet the capital payment when it falls due. The industry is working with these borrowers to ensure early engagement and to help customers find a solution.