Yes, interest only loans can generally be taken out over 1-5 years and to a maximum of 15 with some lenders.Just remember that you don't have to stay with one lender for the life of the loan and could easily change (refinance) at the end of your IO period while sticking to the same strategy.Good luck with your purchase.Luke GoodmanPh: 0…[Read more]

Hi Dave,I'll try and make this as clear as possible for you.Firstly, you are not the only person to be "caught out" like this. It doesn't really matter whether you went through a bank or a broker as the majority of them out there do not clearly explain what you need to know about your mortgage. They are just happy to get your business.Nothing h…[Read more]