Interest only mortgages


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H

Hauser's-Helmet

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Anyone got one ?
If so what are your plans to pay the balance off at end of term ?
 
I've got part repayment and part interest - works pension will pay off the interest only bit.
 
Anyone got one ?
If so what are your plans to pay the balance off at end of term ?

Buy a house, pay interest only mortgage, (cheaper than renting), sell house (hopefully in a rising market), walk away with a profit ie to make up for the mortgage payments thus free housing or use as deposit for somewhere else.

Risky in a falling market.
 
I was thinking of gannin for one then hoying in the same amount as the repayment into safe shares, see how long it takes to get enough to settle balance.
Means if I want I can overpay and that, but will be a more fun watching my shares rather than just paying for X amount of years.
 
Buy a house, pay interest only mortgage, (cheaper than renting), sell house (hopefully in a rising market), walk away with a profit ie to make up for the mortgage payments thus free housing or use as deposit for somewhere else.

Risky in a falling market.

Is it? I reckon if you've got the right mortgage it could be, but the different is marginal and the risk you are exposing yourself to should be worth a premium.

Of course I believe land and houses will always, in the long-term go up. Even in this big "correction", they may be hard to shift but prices haven't fallen that much relative to the rises over even the 5 years before 2007.
 
Buy a house, pay interest only mortgage, (cheaper than renting), sell house (hopefully in a rising market), walk away with a profit ie to make up for the mortgage payments thus free housing or use as deposit for somewhere else.

Risky in a falling market.

you really do crack me up:lol::lol:
 
Av just decided interest only mortgages are shite and am not going to bother.
 
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