Interest Only Mortgage

Interest Only Mortgage
Originally available to investors / high income earners only, Bank of Scotland have made it available to family home purchasers. This can be an extremely tax efficient method of borrowing for investors, as the interest portion of the home loan can be used as an allowable expense against rental income. At the end of the term the original mortgage amount borrowed will be due to the lender.

Advantages
Lower monthly repayments
Flexible repayment option
Suitable for self employed or investors

Disadvantages
X Original loan amount does not reduce
X Pay higher interest than an annuity Mortgage

INTEREST ONLY MORTGAGE - ONLINE APPLICATION

Warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period.

Resources

Helping First Time Buyers

here at mortgage plus we will help any first time buyers buy thier first home. The process will seem quick and simple with our consultants help.

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