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ianmc
Guest
Forgive me but I am new to this thing! I have gone through hostoric postings but they have not fully answered my questions.
Last year I bought an investment property (from plans) paying for deposit with my own money. I plan on renting out the property once it has completed. I have got approval from bank for mortgage (not interest only) but have recently begun considering an interest only mortgage option.
Currently, I can only see the "pro's" of an interest only mortgage.
Could someone bring me back down to earth and identify the "cons" so I can properly weigh up the situation?
Last year I bought an investment property (from plans) paying for deposit with my own money. I plan on renting out the property once it has completed. I have got approval from bank for mortgage (not interest only) but have recently begun considering an interest only mortgage option.
Currently, I can only see the "pro's" of an interest only mortgage.
Could someone bring me back down to earth and identify the "cons" so I can properly weigh up the situation?