Interest only on mortgage.

eleerin

At the moment I am paying repayment and interest on my mortgage. How do I go about changing this to interest only? I am struggling to pay off my debt and wonder how much I could save and if it would be possible to pay it this way.

Any advice would be most appeciated.

Thanks

Burlesque_Babe

it depends on the interest rate you are paying and your outstanding balance. Some mortgage companies have clamped down on borrowers easily switching over to interest only.

Your mortgage company would be able to give you the figures and their rules on switching.