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Thu 05 May 2010Property investor
Interest-only mortgages depended on a rising market and now many in the small-time landlord sector smell trouble, writes JACK FAGAN
JUST WATCH how the storm clouds gather over the interest-only mortgage market. To the casual observer, this banking option had particular appeal with investors at the height of the property boom. They relied on capital appreciation to keep values rising until it was time to flip on the property. The formula worked like a treat until the housing bubble finally burst and caught many people out.
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