Money Box Live: Your Mortgage
Money Box
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How to Reduce the Cost of Your Mortgage
When you're paying interest only, you're not paying down any of the amount that you've actually borrowed to the capital on your property. So for a short period of time, it can be a really useful way to help make ends meet or manage to a situation. But over a longer period, because you's not paying off the capital, you need to be thinking quite carefully about what plan you'd have in place and how you would pay it down. Reach out. Talk to your lender. That is your message from this. I think that's very clear. Is it?
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