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each monthly
repayment to your lender consists of interest only |
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as no capital repayments
are made during the term of the mortgage, monthly
costs are lower; however you will not increase the
equity in your home |
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repayment of the loan
is managed by you and would usually be paid from
proceeds of the sale of your home, inheritance,
savings or investments |
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this type of mortgage
is not accepted by all lenders unless an investment
vehicle is also selected |
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