Search Results for 'Interest-only loan'
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Prospect of end of interest-only mortgage fills me with dread
Q. I purchased two residential investment properties in the middle of 2007. I took out loans on an interest only basis. The interest-only period on those loans is coming to an end in December of this year. The capital repayments on the loan will probably be impossible for me to finance. I don’t think that I can sell the houses in the current climate and even if I could, I would have to sell them at a loss. Is there anything that I can do to reduce the financing cost?
