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Interest only mortgage query

VileReynard
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Re: Interest only mortgage query

Brighton's earliest name was Bristelmestune, recorded in the Domesday Book. Although more than 40 variations have been documented, Brighthelmstone (or Brighthelmston) was the standard rendering between the 14th and 18th centuries.

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Jonpe
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Re: Interest only mortgage query

The city of Brighton and Hove.

Community Veteran
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Registered: ‎01-08-2007

Re: Interest only mortgage query


@shutter wrote:

Can anyone explain to me what happens at the end of the "term" on an "interest only payment" type mortgage  ?


Short answer: A lot of people get into a lot of trouble.

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VileReynard
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Re: Interest only mortgage query

But they have almost certainly paid much less for 25 years than if they had "chosen" to rent a property for a similar period.

They can always sell the house in exchange for a smaller one, due to the enormous capital appreciation that has occurred.

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RobPN
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Re: Interest only mortgage query


@VileReynard wrote:

 

They can always sell the house in exchange for a smaller one ...


That might depend on how small the original purchase was in the first place.

Luzern
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Re: Interest only mortgage query

Has anyone asked Wendy yet? She should know.Grin

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