Repayment vs Interest-Only Mortgage

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03 Mar 2009 12:00 AM by fuanak Star rating. 21 forum posts Send private message

Hi,

Are they anybody who got interest-only mortgage through CFP ?  I finally got an offer after many months of waiting but it is a repayment type, and the consequent monthly payment is rather high for me.  Just wonder is repayment type is the norm in Spain.

 

fuanak




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04 Mar 2009 9:18 AM by sharonw Star rating in Coin, Malaga. 281 forum posts Send private message

sharonw´s avatar

Hi Fuanak,

There are Interest Only products available; varying periods but most availability is up to 5 years,  and there is also a full term Interest only product.   It very much depends on your requirement e.g.  LTV etc. and your circumstances. 

Hope that helps,

 



_______________________

Regards

Sharon

sharon@tmasspain.com

 www.themortgageservicegroup.com

 

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