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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…

Comments

MWT Posts: 10,676 Forumite

28 June 2023 at 12:24PM

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.

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