A new article in the Business Insider has warned that any UK interest rates rises will "place a significant strain on homeowners" monthly mortgage payments, after those who have not repaid the principal loan amount on an interest-only mortgage are expected to pay back substantial amounts of money by the end of the loan period. The article, written by David Jones, is titled "The Mortgage Interest Rate:
A new article in the Business Insider has warned that any UK interest rates rises will "place a significant strain on homeowners" monthly mortgage payments, after those who have not repaid the principal loan amount on an interest-only mortgage are expected to pay back substantial amounts of money by the end of the loan period. Low interest rates coupled with rising house prices increased the popularity of such mortgage schemes, and the Citizens Advice Bureau has warned that almost one million Britons will be affected when interest rates rise sometime in 2016.