Interest only with overpayments vs Capital and interest

UKSBD

What difference is there between having an Interest only mortgage with overpayments and a capital and interest mortgage?

I'm renewing a 2 year fixed interest only Buy to Let

I asked about a capital and interest mortgage, was told they don't do them but that I could make overpayments (up to 10% of balance per annum)

This got me thinking, just what is the difference? other than I appear to have more flexibility (ie. don't have to overpay if I don't want to)

[Deleted User]

If you're paying the same amount of capital, none.

UKSBD

Why don't more people do it?
Is it just because of the temptation of not making the overpayments if you don't have to?

getmore4less

because the option is not offered by default on residential mortgage, you have to ask, and in some cased beg to go I/O.

BTL standard to go with I/O as first option.

Thrugelmir

The less interest you pay. The greater the profit you'll make. The higher the tax you'll have to pay.