{"id":2477,"date":"2014-11-05T18:43:28","date_gmt":"2014-11-05T10:43:28","guid":{"rendered":"http:\/\/www.mortgagesmoneyandme.com\/?page_id=2477"},"modified":"2023-06-14T07:47:08","modified_gmt":"2023-06-14T07:47:08","slug":"interest-only","status":"publish","type":"page","link":"https:\/\/mortgagesmoneyandme.com\/resources\/interest-only\/","title":{"rendered":"Interest only"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2477\" class=\"elementor elementor-2477\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-613ec9ee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"613ec9ee\" data-element_type=\"section\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-21bcbfa3\" data-id=\"21bcbfa3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a765922 elementor-widget elementor-widget-text-editor\" data-id=\"5a765922\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Interest only repayments on your loan are a useful tool to temporarily reduce the actual dollar amount of your repayments for an agreed period of time.<\/p><p>This can be good for a short term requirement where there is a temporary reduction in income or increase in expenses (such as paying rent while you are building a new home, for bridging finance, or for starting a family). Interest only repayments can also be used as a part of a wealth creation strategy with your financial advisor where excess income is first directed to non tax deductible debt.<\/p><p>Be aware though that interest rates are normally higher, and that when the interest only period has expired the resulting Principle plus Interest repayments are also going to be higher as the loan has to be then paid over a shorter term.<\/p><p>You may also like to check these calculators:<\/p><p><a href=\"https:\/\/www.mortgagesmoneyandme.com\/calculators\/basic-loan-repayments\/\">Basic loan repayments (Principle plus interest)<\/a><br \/><a href=\"https:\/\/www.mortgagesmoneyandme.com\/calculators\/loan-comparison\/\">Loan comparison<\/a><br \/><a href=\"https:\/\/www.mortgagesmoneyandme.com\/calculators\/finance-calculators\/budget\/\">Budget<\/a><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36801749 elementor-hidden-mobile elementor-widget elementor-widget-html\" data-id=\"36801749\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<iframe id=\"Interest_Only_Mortgage_Calculator\" class=\"VisiCalcClass\" src=\"\/\/www.visionabacus.net\/Tools\/B3\/SuiteA\/G100\/Interest_Only_Mortgage_Calculator\/MortgagesMoneyAndMe\" frameborder=\"0\" scrolling=\"no\" height=\"550px\"><\/iframe>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f4c179d elementor-hidden-desktop elementor-hidden-tablet elementor-widget elementor-widget-html\" data-id=\"3f4c179d\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<iframe id=\"Interest_Only_Mortgage_Calculator\" class=\"VisiCalcClass\" src=\"\/\/www.visionabacus.net\/Tools\/B3\/SuiteA\/G100\/Interest_Only_Mortgage_Calculator\/MortgagesMoneyAndMe\" frameborder=\"0\" scrolling=\"no\" height=\"1400px\"><\/iframe>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Interest only repayments on your loan are a useful tool to temporarily reduce the actual dollar amount of your repayments for an agreed period of time. This can be good for a short term requirement where there is a temporary reduction in income or increase in expenses (such as paying rent while you are building [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":6787,"menu_order":8,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/pages\/2477"}],"collection":[{"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/comments?post=2477"}],"version-history":[{"count":12,"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/pages\/2477\/revisions"}],"predecessor-version":[{"id":7945,"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/pages\/2477\/revisions\/7945"}],"up":[{"embeddable":true,"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/pages\/6787"}],"wp:attachment":[{"href":"https:\/\/mortgagesmoneyandme.com\/wp-json\/wp\/v2\/media?parent=2477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}