singinvestor
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I am currently looking to purchase an apartment to live in. The plan is to take out an interest only mortgage at a 10 year fixed rate. The plan is to rent the apartment out in 3-5 years. I am wondering at that stage, can I continue paying under the rate of the existing 10 year mortgage even though the property is now an investment or will the financial institution force me to break the 10 year mortgage and take out a new investment mortgage at whatever rates are available at that time?