My partner and I are currently looking to buy our 1st home together. We are using a financial advisor and he is trying to get us to take an interest only mortgage for the 1st two years. However, I know that I will not be able to make the savings to cover the actual mortgage. He thinks that if I remortgage after 2 years inflation rates would mean that we would have sufficient capital to put down on the house, therefore, not owing any extra. Has anyone else been in the same position? If so, what do you recommend?
Any help would be brilliant as I am now at the stage where I want to rip my hair out. We are in UK (Scotland) if that helps anyone?
2007-07-23
02:22:01
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10 answers
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asked by
fat_arse
3
in
Renting & Real Estate