Definitions for "Interest-only Mortgage"
Keywords:  isa, endowment, pep, pension, repay
A type of home loan where your monthly repayments to the lender comprise only the interest due on the debt. The principal part of the loan remains the same for the entire length of the term. You must take out a savings plan in conjunction with the loan to make sure you have the money to pay off the principal at the end of the loan term.
MP] An option attached to a mortgage, which allows the borrower to pay only the interest for some period.
Monthly payments to the lender are made up simply of interest. You don't pay off any of the capital of the mortgage during the term of the mortgage, but do so at the end, having accrued a large enough amount of money in an investment fund. Classically, these investment funds have always been endowments, but increasingly they are ISAs.
Keywords:  finance, loose, way, great, monthly
a good way to finance a property that will not loose in value over the
a great way to finance a home with significantly reduced monthly payments for the first
a very popular alternative to traditional fixed rates
Keywords:  consumer, program, home, loan
a home loan program where the consumer is