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Interest Only - Melbourne

(Geelong, Australia)

Post #: A43548250
Posted on: 15 October
Reply to: (Use contact form below)

 

With an interest-only loan, you only pay off the interest on the loan for a fixed period, rather than paying off the interest and principal. Interest-only loans are an option if you cannot initially make higher repayments. At the end of the interest-only period, the loan will change to a principal and interest loan and you will start repaying the amount borrowed as well as the interest, which will increase the amount of your repayments. You should work out what your repayments will be at the end of the interest-only period and make sure the higher repayment amount is affordable.

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Interest Only - Melbourne, Australia - Free Classifieds - Muamat



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