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  • Profile photo of agordonagordon
    Participant
    @agordon
    Join Date: 2004
    Post Count: 4
    June 16, 2004 - 1:21 pm

    Thanks very much for all your replies.

    My query is why would you then take an interest only loan when you could take a p & i loan and therefore have at least part of the loan paid off. I am of the understanding (that is my interpretation only!!) as since I wont be able to claim any interest on owning a block of land I am better off getting a P & I loan. Please let me know if I am heading in the wrong direction. So confusing. BUT i am really grateful for all feedback – this is such an AWESOME forum!! Well done!!

    Profile photo of agordonagordon
    Participant
    @agordon
    Join Date: 2004
    Post Count: 4
    June 11, 2004 - 1:04 pm

    I am really grateful for all your replies. I guess I dont really understand the principles of an Interest Only loan. If anyone is willing to provide me with this information I would be very grateful. My current loan is an equity loan.
    Thanks very much.

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