Some lenders will allow borrowers to make interest only repayments for a few years at the start of a mortgage if that's what the borrower wants. Obviously the borrower will pay more in interest charges over the term of the mortgage compared to an annuity/repayment loand of the same term. Some lenders will offer interest only mortgages for the full term and leave it to the borrower to figure out how to clear the capital at the end of the loan.modestus said:Is it the policy of Banks to grant this type of Mortgage for a short period of a few years only
In many cases yes.-it is in the interest of a property investor to go the intrest only route because this maximises the tax write off -anybody any experience of this ?
Do you have no next of kin other than brothers and sisters?bricksguy said:I will leave my young siblings decide what to do when they inherit the properties all with outstanding loans