I found out last night that buy to let mortgages are interest only. I thought that if we bought a property to rent out we could use the rent people pay to pay off the mortgage (and give us a monthly income) and when the mortgage is paid off, all the rent would be ours.
What happens at the end of the interest only mortgage? You then still owe all of what you borrowed? How do you then pay off that whole amount? Am I missing something here??
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A question about buy to let mortgages
13 replies
Iamblossom · 11/11/2014 20:08
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