News

Playing the mortgage game

Tuesday 23rd of August 2005
The mortgage is interest-only, fixed at 7.3 per cent until January 2006. The rent pays for all the annual outgoings.

My plan is to keep renewing a fixed-rate, interest-only mortgage and, at the end of each term, pay a lump sum off the borrowed amount before re-fixing.

This will give me flexibility on how much I can afford to put towards paying it off each term and won't t...
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