There are a range of reimbursement vehicles ready for people who have interest-only mortgages.
Endowments
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This type of endowment, sometimes known as a 'full endowment' is a form of life guarnatee policy taken out in conjunction with an interest only mortgage and allows you to pay monthly premiums which remain the same for the entire term of the loan. When the mortgage term expires and the balance becomes due you receive a tax free lump sum payment which is used to pay off your mortgage. In the past many of these endowments have performed well and have produced a sum, or surplus, which is greater than the mortgage balance to which you are also entitled, tax free. However, since these full endowments contribute guarantees relating to performance, they are highly expensive.
