Buy to Let: Interest Only vs Capital Repayment

Saint84

Hi guys, I have put down a reservation for a BTL investment property. I am currently looking at Mortgage options. On one hand, I'd like to do interest only as it gives me the option of having some incremental income, flexibility and monthly costs would be lower. Whilst on the other hand, I don't like the thought of the capital owed not going down (think its a phycological thing).
Cleary, I do have the option to overpay each month/year say, but would the interest savings be the same as if I did the capital repayment - or is the difference so trivial, its not worth thinking about?

thanks in advance. 

haras_n0sirrah

I recommend my clients do interest only on a btl every time. If you want to pay off faster set up a standing order for the difference that way in the event of a non payer or a void period your contractual payment is lower. It is easier to pay more voluntarily than have to try and change to interest only as the tenant from hell wont pay and wont leave.