interest only mortgage until I am 70 then sell it to repay capital?

[summersun]

hello Readers, could I get an interest only mortgage until I am 70 on basis that I sell house to repay capital? would appreciate any tips and maybe suggestions as to lenders, 350 deposit, borrowing 300k,

 

[ClubMan]

On an investment property or a PPR? For the latter I doubt it. Where would you live?

 

[LDFerguson]

Closest match would be Bank of Scotland who'll do 10 years interest-only and will lend to age 70.

Liam D. Ferguson
www.ferga.com

 

[Haille]

I have just got an interest only loan for 20 years from NIB .I am age 49.Hoping to to pay of bulk of capital with my wife's pension lump sum in 15 years time as well as money put aside from rental income.Loan 120,000 euro for investment property.Re mortgaged main residence worth 500,000 +.Hoping to pass on investment property to son or daughter.Maybe get them to pay off capital in 20 years time.

 

[sally2007]

Would you consider a pension backed mortgage - pay interest only over the term, pay into a pension fund along side it getting full tax relief and then use your 25% tax free lump sum as well as part of the remainder (if needed) to repay the capital??