An interest-only loan is a loan with a set term where the borrower is required to repay only the interest on the principal balance.

Interest-only loans are popular with investors, as they generally offer lower repayments, while the property asset hopefully increases in value over the long term.  Interest-only loans can also be beneficial for people who are renovating their own home or building property and seeking lower repayments whilst doing so.

Speak to a Bernie Lewis Mortgage Adviser to learn more about Interest only loans