If you’re one of the borrowers who took out an interest-only mortgage expecting that the increase in property prices would help you to pay off your loan then the recent drop in house prices may have scuppered your plans. At the peak of the market buyers turned to interest-only loans as a way of [...]

  The Council of Mortgage Lenders (CML) said that gross mortgage lending rose 26% in July to £16bn. The lending figure has jumped from £12.7bn in June but represents a 36% decline from the £24.9bn recorded in July last year. The CML says the figures point to a modest improvement over the summer following "an [...]