Hi Everyone,
I have the option of having my mortgage interest only for the first 3 months which i am considering as it would make life an awful lot easier because of all the initial expenses i will have for furnishing my new home.
I am wondering how will this affect my repayments from month 4 and then after.
Will the montly repayment be much greater than the regular repayment would be if the interest only option was not used at all.
Is there a way to calculate this exactly?
Thanks
I have the option of having my mortgage interest only for the first 3 months which i am considering as it would make life an awful lot easier because of all the initial expenses i will have for furnishing my new home.
I am wondering how will this affect my repayments from month 4 and then after.
Will the montly repayment be much greater than the regular repayment would be if the interest only option was not used at all.
Is there a way to calculate this exactly?
Thanks