Interest only equity release?

P

Propman

Registered User
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If one has a capital repayment mortgage - but wants to release equity on an interest only basis - will banks allow one to do that?

House is worth 500k; repayment mortgage of 150k; want to release 100k but only pay it back on an interest only basis for a period of 3 years.
 
In a word, yes.
You can split the mortgage into capital and interest AND interest only.
 
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