July 28, 2011
An Interest Only Mortgage
Are your monthly home loan repayments crippling you? If they are then a ‘mortgage break’ could be an option. With the economic climate having an effect on more or less everybody around the world banks have come up with a solution that’s helping thousands of people. A brief break in mortgage repayments (typically 2-3 months) is allowing people to get ‘back on top’, without getting behind with our mortgage repayments.An ‘interest only’ pre qualifying for home loan is another option and allows borrowers to only repay the interest on the loan for a specific amount of time which considerably lessens their month-to-month outgoings. So if you need to reduce your outgoings whilst things are tight discuss options available to you with your local mortgage advisor.
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