mortgage limitations for FTBs

[cobalt]

I've a vague recollection of hearing at some point that not all lenders will give interest only mortgages to FTBs (or maybe it was that they wouldn't give mortgages for investment properties to FTBs). Can anyone tell me what, if any, the limitations are? Thanks.

 

[WizardDr]

Basically the lenders concerns would be how close to 100% LTV will a customer be;
why exactly does the client want to do this?;
what is the strategy for paying it off.

For example, if you were self employed, and the pattern of cashflow was erratic, you might be unable to meet a monthly payment.

Basically they aint going to do it unless a case is made.

 

[cobalt]

Thanks WizardDr.