eyesgreen_1
Registered User
- Messages
- 95
Hi...im thinking of going interest only on my morgage for a while and looking for some information on how that effects things in the long run of the morgage ?...took my present morgage out 2 years ago this november..was for €182,000 over 30 years..present balance is around €178,000...im on 5.6% with ulster bank until nov when they will offer a variable or fixed options again..my present repayments are €1018 per month..should go down to around €830 when variable kicks in..just wondering if i go interest only for a while what happens to repayments when you come back off interest only onto capital plus interest again..does your original monthly repayments go up or is the legnth of your morgage increased or how does it all work ?...any info on this would be much appreciated..thanks.