New Posts For Thread: Interest Only Mortgageshttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgagesCan anybody tell me why mortgage advisers are so reluctant to offer interest only mortgages?My adviser has recently offered me a fixed rate repayment at 3.59% (2 years) Then Variable rate of 4.4%This is based on a property in the south east costing 2mr chiselsome svr,s are currently lower than a fixed term however svr,s are not fixed which is the point and they can double overnight [ see skipton bs actions recently], personally i would tie in to boe base rates and or fixed term rates and pay a shttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965810#425965810mr chiselsome svr,s are currently lower than a fixed term however svr,s are not fixed which is the point and they can double overnight [ see skipton bs actions recently], personally i would tie in to boe base rates and or fixed term rates and pay a sTue, 16 Feb 2010 06:14:59 -0600Oh, and some lenders SVR are 2.5% or lower. Not sue that those people are mugs either!https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965806#425965806Oh, and some lenders SVR are 2.5% or lower. Not sue that those people are mugs either!Tue, 16 Feb 2010 05:29:28 -0600Sorry Old Ace. Should read , not everyone that "Chooses Repayment is a mug!!"https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965802#425965802Sorry Old Ace. Should read , not everyone that "Chooses Repayment is a mug!!"Tue, 16 Feb 2010 05:28:57 -0600Old AceLOL. Not sure someone that "CHOOSES" IO is a mug but take your point!I agree that IO is great for a lot of people.Somer people need to take a little more responsibility!It is amusing that IO borrowers /lenders are blamed for teh credit crisishttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965786#425965786Old AceLOL. Not sure someone that "CHOOSES" IO is a mug but take your point!I agree that IO is great for a lot of people.Somer people need to take a little more responsibility!It is amusing that IO borrowers /lenders are blamed for teh credit crisisTue, 16 Feb 2010 03:54:21 -0600i have paid my mortgage off, i am thinking of buying a bigger property for approx 50k more than the current value. I think an IO mortgage is a giveaway am i missing something ?https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965746#425965746i have paid my mortgage off, i am thinking of buying a bigger property for approx 50k more than the current value. I think an IO mortgage is a giveaway am i missing something ?Mon, 15 Feb 2010 12:37:09 -0600wise words old acehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965742#425965742wise words old aceMon, 15 Feb 2010 10:34:52 -0600agreed IO is finehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965738#425965738agreed IO is fineMon, 15 Feb 2010 09:48:04 -0600interest only deals every time build societies will push you toward what is best for them , always take what they dont want you to have - see endowment mortgages , oh the repayment terms are the same and you get a big lump sum at the end for free.nothttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965734#425965734interest only deals every time build societies will push you toward what is best for them , always take what they dont want you to have - see endowment mortgages , oh the repayment terms are the same and you get a big lump sum at the end for free.notMon, 15 Feb 2010 06:48:01 -0600Money treeOverboard has not got a clue. He can not understand that Interst Only is ok for SOME people!I guess he would rather rent!https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965722#425965722Money treeOverboard has not got a clue. He can not understand that Interst Only is ok for SOME people!I guess he would rather rent!Mon, 15 Feb 2010 03:02:33 -0600whys that overboard?https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726110/interest-only-mortgages?post_id=425965714#425965714whys that overboard?Sun, 14 Feb 2010 09:07:20 -0600