All Topics / General Property / interest only loans

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  • Profile photo of leonorleonor
    Member
    @leonor
    Join Date: 2003
    Post Count: 16
    November 8, 2003 - 12:45 pm

    Hi,
    I’ve been trying to find information on interest only loans, but I have been unable to find much about it. It seems this type of loan is not very popular.
    Any feedback?[?]

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    November 8, 2003 - 12:59 pm

    Leonor,

    Not really a type of loan but rather a decision you can make on nearly any loan.

    They serve a purpose and many folks choose IO to suit their needs.

    Useful when maximising deductibility or maximising cashflow.

    Very useful when still paying off a loan as you are able to direct all principle payments into the non-deductible debt.

    Cheers,

    Simon Macks
    Mortgage Broker
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

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