Interest-only mortgages explained. What’s an interest-only home loan?

Interest-only mortgages explained. What’s an interest-only home loan?

Learn how interest-only mortgages work, lenders presently providing interest-only discounts and whether an interest-only home loan is the best selection for you.

An mortgage that is interest-only a loan for a house that enables one to pay back simply the interest in your borrowing every month, and never the main city.

What this means is your monthly premiums don’t repay some of the loan – alternatively, you spend the complete quantity right back at the finish regarding the home loan term in one single lump sum payment.

Exactly How interest-only mortgages work. Whom provides mortgages that are interest-only?

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