Interest only mortgage
hile there may be good reasons for operating a mortgage in this way, it is imperative that provision is put aside to pay off the loan at the end of the term.
Using an investment vehicle to build up a capital sum may be one way of doing this e.g. through an ISA plan, but with all investments there is an associated risk that the sum provided on maturity may not meet the liability.
It is important to get mortgage advice in this area to ensure that an interest-only mortgage is right for your circumstances.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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