I recently read this statement with regard to a BOI Intrest only mortgage
"Interest only option is available on investment properties for 10 years with a 5 year review"
What is meant by the 5 year review ?
What happens at the end of the 10 years, can you remortagage again with the bank intrest only for another ten years, or do you have to clear the debt at the end of the 10 years.
Thanks
"Interest only option is available on investment properties for 10 years with a 5 year review"
What is meant by the 5 year review ?
What happens at the end of the 10 years, can you remortagage again with the bank intrest only for another ten years, or do you have to clear the debt at the end of the 10 years.
Thanks