– Interest Only Fixed Rate Mortgages. They are usually fully amortizing fixed rate loans that may have a term of 10, 15, 20 or 30 years. An Interest Only Fixed-rate Mortgage that is amortized over 30 years permits the borrower to pay interest only for the initial interest-only period of 10 or 15 years. Following the initial interest-only period,
Interest only mortgages – Skipton Building Society – Interest only mortgage With an interest only mortgage, the monthly payments over the term of the mortgage cover only the interest charged on the amount borrowed. This means that the interest only part of your mortgage, together with any fees or charges debited to your account will be owed in full at the end of the term.
Westpac First Big Australian Lender to Raise Mortgage Rates – Its variable standard home-loan rate for owner occupiers will rise 14 basis points. In other moves, Westpac raised: Owner-occupied interest-only mortgages to 5.97% Investor P&I loans to 5.93%.