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 Interest only and what it means.
Interest Only Loans are predominantly used by investors where the interest payment can be used as a tax deduction. The way an interest-only loan works, is you repay only the interest on the principal during the term of the loan. At the end of the loan period you must repay the principal as a lump sum. As you would expect, repayments are a lot lower than with a standard principal and interest loan.
Interest Only loans are popular among investors who plan to sell the property in the short-term for profit. They are not usually recommended for ordinary home-buyers or investors who plan to hang on to their investment property for long-term income and growth.
Contact Fusion Finance today to find out how an Interest Only Loan could benefit you. Fill in our simple enquiry form and we will be in contact with you soon. |
