Yea, I used to work in the mortgage industry. Interest only mortgages are there for people who have investments to cover the cost but just to want to ensure the

Yea, I used to work in the mortgage industry. Interest only mortgages are there for people who have investments to cover the cost but just to want to ensure the liability doesn't increase. What is unfair is selling these mortgages with endowment plans as a "dead cert" to consumers like banks did in the 80s in the UK. They were all successfully sued and settled in the late 90's / 2000s. In the UK the council that sets interest rates is an independant entity.