We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Interest only by choice?

housebuyer143 · 2023-06-25 08:40:09

I thought this would be interesting to discuss. Who here has an interest only mortgage on their residential property by choice and why? I choose to have mine on interest only so I can comfortably enjoy a larger house while I'm young and need the space. It enables me to build larger savings for living my life and general…

Options

Comments

MWT Posts: 10,273 Forumite

28 June 2023 at 1:24PM

Flugelhorn said:

we had IO offset for some years - much of the time it was fully offset (even if sometimes the money was earmarked for HMRC) - was great as all capital got repaid fairly quickly

We did something very similar, it was a great way to keep a line of credit open with instant availability and a low interest rate.

0

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

British Airways passenger? Book and travel using your old Covid vouchers NOW – or lose them
If you had a British Airways (BA) flight or holiday disrupted by the Covid-19 pandemic, check if you've got an old voucher as millions of pounds' worth are still unclaimed. You'll need to use it to travel before the end of September 2025 – or risk losing it. Below we explain how to search for unused vouchers and how to use them.

View All

Interest only by choice?

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free