We almost lost our home

FELICITY and Chris Johnston feared they would never be able to repay their £170,000 interestonly mortgage.

The Johnstons, pictured, were forced to use up their life savings after Mr Johnston, 71, was made redundant and their income plunged. Worse still, their investments underperformed, leaving them facing a huge shortfall.

The couple, from Waltham Cross in Hertfordshire, searched for another mortgage company to cover the loan on their fourbedroom terrace – but they were turned away because of lenders’ tight age restrictions and a clampdown on interestonly deals. They finally had to resort to an equity-release mortgage to stay in their home.

Mrs Johnston, 64, who has a card making company, said: ‘I was really worried ... Every time we tried to renew and extend it we were hit with a dead end.’