It’s no fun looking forward to a retirement with a huge debt on your shoulders. Yet, a recent report says that more than a million people may not be able to pay off their interest-only mortgage and live in fear of repossession. Many borrowers who took out an endowment policy in the 1980s and 1990s are finding that their policy will not now cover the cost of repaying the mortgage.
The report ( http://www.fca.org.uk/news/interest-only-mortgages ) is based on...