Silly question but if we accept the interest only offer then how do we pay the capital off? On a monthly basis or send in a cheque annually? Or how?
I was also just wondering whether accepting the interest only period would affect our credit rating or would this be a consideration to factor in.
Hi ircoha
That is very interesting. The Consumer Credit Act allows people to pay amounts off their mortgage whenever they want. If a Direct Debit is not allowed, they can just go to the bank and lodge the money every month.
Brendan
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