Part-and-Part Mortgages Could Boost Homeownership

The Financial Conduct Authority is looking at changing mortgage rules to help more people buy homes.

One idea is part-and-part mortgages, which mix two types of loans.

Normally, you pay off the whole loan (repayment) or just the interest (interest-only).

Part-and-part lets you pay off some now and some later.

This can make monthly payments lower, which is great if you're on a tight budget.

But you still need a plan to pay the rest later.

Some lenders might limit how much can be interest-only.

It's a way to make homeownership easier, but you have to be careful with your money.