The answer is complain to the Daily Mail.
Have a look at today's online edition
Some comments about this article.
Firstly, I find the description of Welling (Kent) as a 'small town' to be quite funny. This gives the impression that Welling is some sort of small town in the Kent countryside when in fact, despite the Kent address, it is situated in the London Borough of Bexley well within the 'built up' area of Greater London in travelcard zone 4 and bordering on the London Borough of Greenwich. Not a cow, sheep or green field in sight.
The article states that borrowers agreed to give up three-quarters of any increase in the value at sale. The article goes on to state that the house is now worth Â£300,000.
The article then states that they would have to pay the bank Â£192,000 leaving them with just over Â£100,000.
Now 192,000 is 75% of 256,000.
This implies that the value of the house has increased by Â£256,000 since they took out this no-interest mortgage on an unspecified date between 1996 and 1998.
This means that on the date the mortgage was taken out the home was worth only Â£44,000.
I don't think so. Not a house in Welling in the late 90's. Somebody has got their figures very wrong somewhere.
Having criticised the article, I would go on to say that these mortgages were a bad product.
Just to clarify a final point. When I suggested the OP take out an interest-only mortgage I was referring to a real interest-only mortgage with a 5 year term and actual repayments to cover interest during the term of the mortgage, and not a product such as this.