Hi,
We are emigrating - we've on a standard variable - and there's going to be a shortfall of ca. €700 between rental & current (KBC) mortgage payment.
If we go interest-only, it'll eliminate this shortfall for a period. I'd prefer to cover cashflow in the shortterm - as we've 3 young kids.
Does anyone know:
a) the impact of moving from interest + capital to interest-only on our credit rating (planning on coming back in a few years...)
b) how easy / difficult are KBC in negotiating a move to interest only
Many thanks,
DB
We are emigrating - we've on a standard variable - and there's going to be a shortfall of ca. €700 between rental & current (KBC) mortgage payment.
If we go interest-only, it'll eliminate this shortfall for a period. I'd prefer to cover cashflow in the shortterm - as we've 3 young kids.
Does anyone know:
a) the impact of moving from interest + capital to interest-only on our credit rating (planning on coming back in a few years...)
b) how easy / difficult are KBC in negotiating a move to interest only
Many thanks,
DB