Millions of UK Home Owners Might Not be Able to Pay Their Interest Only Mortgages

The video discusses the challenges faced by borrowers with interest-only mortgages, highlighting the risks of ignoring repayment plans. It emphasizes the importance of planning and communicating with lenders to avoid severe consequences like losing one's home or having debts written off. The Financial Conduct Authority warns that many borrowers may be overly optimistic about their ability to repay, urging proactive measures to address the issue.

How does the Financial Conduct Authority view the optimism of borrowers regarding repayment?

What should borrowers do as they approach the end of their mortgage policies?