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Intrest Only mortgages

Last post Fri, May 16 2008, 12:06 PM by nick1982. 2 replies.
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  •  Fri, May 16 2008, 11:25 AM

    Intrest Only mortgages

    i want to go intrest only for first 2 years of my mortgage then switch to repayment.

    do you have to have savings aswell, if you want to go intrest only?

    Nick

    • Post Points: 20
  •  Fri, May 16 2008, 12:00 PM

    Re: Intrest Only mortgages

    You don't necessairly have to have savings - I would be surpised if lender will really ask you for them.

    Why do you want to go interest only - it is better if can afford to go repayment to start off with!

    • Post Points: 20
  •  Fri, May 16 2008, 12:06 PM

    Re: Intrest Only mortgages

    coz i dont no whether to keep the house or sell it after 2 years im not to sure

    • Post Points: 5