Interest Only
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THE VALUE OF INVESTMENTS CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.
Interest only mortgages which have also been called 'endowment mortgages' or 'pension mortgages', are a mortgage where only the interest is repaid. At the end of the term you will still owe the amount you originally borrowed and how you repay this is up to you. Most lenders will require some form of proof such as an investment plan, pension or other method that you will be able to repay the debt normally before your retirement age.
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