Interest Only Calculator

Interested in taking out an interest only loan? It will help you save money in monthly repayments for the initial interest only period. However, the mortgage repayments after the interest only period is higher for the remainder of the loan. Taking out an interest only loan is generally used in the accumulation stage of a property investing journey or to help with cashflow in the short to medium term. Lenders are generally a bit more strict when it comes to interest only loans, so make sure your expenses are in control and have a good credit score!

You can also check out our other calculators which can help you build up greater understanding of everything you need to know before you take out a loan.

Want to take out an interest only loan?

Taking out an interest only loan might not be the best way forward for your personal circumstances. Chat with one of our brokers today to see if this is the right move for your goals! Given lenders are a bit more strict with interest only loans, we need to be careful in choosing the one that gives you the best chance of getting approved and can help you achieve results you want!

We are a 100% independent mortgage broker and we will always put our customers first! Fill out the form and speak with us today!

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