22 Apr 2007 12:00 AM:

My wife and are buying a Town House in Alcaidesa off plan it is due for completion any time now.

We have paid 30% of the cost in instalments and need a mortgage for the remaining 70%.

The developers bankers (Banco pastor) have said they can only offer interest only  4.5% for up to

3 Years max.

Idealy we would like an interest only Mortgage over 15 years.

Are interest only mortgages readily available?

Can the IVA on the balance be added to the mortgage or does it have to be paid separately?

Is 4.5% the going interest rate at the moment?

 

 

Thread: Interest Only Mortgages

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