An interest-only mortgage is a mortgage where you only pay off the interest accrued every month and wait until the end of the mortgage term to pay off the original sum borrowed.
An interest-only mortgage is a mortgage where you only pay off the interest accrued every month and wait until the end of the mortgage term to pay off the original sum borrowed.
You must be able to prove to the lender you’ll be able to repay the mortgage at the end of the term to access an interest-only mortgage, whether through savings, investment or other assets.
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General Mortgage FAQ
