Are INTEREST ONLY MORTGAGES any good?

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Interest only mortgages are this, Interest only mortgages are that! What what is the actual truth when it comes down to Interest only mortgages? This video will tell you a few pros and cons when it comes to Interest only mortgages! Do you have Interest only mortgages? Are you considering Interest only mortgages but not 100% sure what they are? Or are you 100% against Interest only mortgages? Let me know in the comments your views and opinions on Interest only mortgages and how they have help or impacted you!
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00:00 - Intro
00:10 - Repayment vs Interest only
01:50 - Pros and cons
04:15 - interest only Pros
09:00 - Lendlord
10:20 - Government

[@JamieYork]

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[@sarahwennostephensonofficial]

This is another helpful video with excellent content and valuable information. Thanks.🙏

[@JamieYork]

Thanks Sarah 😊

[@ferencmakra1764]

I love this. Especially the part where inflation erodes our debt away. You are a clever chap JY

[@JamieYork]

Haha, thanks mate!

[@theodoreroosevelt7224]

My major concern would be that the loan needs to be gone by retirement. Yes, you might be able to get rid of it sooner or increase the properties value by improving it. But human nature, habit and hard times could well push someone miss that deadline and then need to work a tone right when they're not feeling up to it.

[@JamieYork]

What makes you think it needs to be paid off by retirement?

[@jlpropertychannel9900]

Hi, great videos by the way, and I just realised you are pretty close to where I live. Small world 😅

[@JamieYork]

Oh cool! It's is a small world! Thanks for watching!

[@youtubeman5033]

Property always comes back, it doubles every 12 years, I’m only interested in lower payments so I can make more money from my rents,I don’t worry about the capital, that will be my kids problem I’ve no intention to sell any property’s and inflation will only affect you if you need to refinance. Good video Jamie as always

[@JamieYork]

Cheers mate! Thanks for watching!

[@Harry_jtb]

Great video Jamie, thanks! :) Got a specific question on remortgaging a BTL and dealing with the fees etc. Should you always prioritise getting the lowest mortgage rate (%)? Even if it means having a large product fee (and high legal fees) which would get added to the mortgage? Or is it better to find a balance with a mortgage that has a low product fee? Many thanks :)

[@michaelbalfour3170]

I want a 40 year mortgage, interest only, and the difference I'd save from changing from repayment, Id invest and make interest on. Its 40 years so even a crap interest rate is worth it. plus maybe in about 15 years time a months wage will equal 10 percent or something so I can pay off lumps. They now let me pay off lumps of 20 percent per year.

[@Andy5c]

Man needs to get down to asda fredos are 25p (used to be 10p back in day though) 😂 70-80p you must be shopping at them rich people places. I'm intrest only on all my BTLs cash flow is great and time is the capital appreciation

[@JamieYork]

😂

[@razvangabriel7266]

Interest only. As you mentioned you’ll have more cash this way & money will be worth less in 30 years

[@The_Unintelligent_Speculator]

They are when I pay £107 a month for £800 rental income 🙌. Just a long term bond and making money out of thin air.

[@EVERYTHING4U27]

What was the value of the mortgage at the start?

[@OnlineopticsCoUk]

Does Lendlord work in Scotland?

[@youtubeman5033]

Property always comes back, it doubles every 12 years, I’m only interested in lower payments so I can make more money from my rents,I don’t worry about the capital, that will be my kids problem I’ve no intention to sell any property’s and inflation will only affect you if you need to refinance

[@dardog7734]

I’d like to pay interest only but NatWest won’t let me

[@JamieYork]

On you personally mortgage or on BTL. With personal, a lot of banks aren’t doing that at the moment

[@palakmittal9911]

Can I take an 'interest only ' mortgage on my residence property?

[@chriswelsh4397]

Yes

[@possle]

Absolutely

[@Andy5c]

It's a lot harder on residential most lenders like to see you paying the debt down

[@EssexDaveGoesWalkabout]

depends on how much you earn

[@alistairlowe903]

You also need a mechanism to repay the mortgage at the end of the term and this can’t be sell the house 🤷🏻‍♂️

[@possle]

I feel I've been brain washed almost into how I've been with money up until 2020 I'm leading towards interest only next time (2025) as my house three times the value is was over 11 years ago Borrow more and start with some boring buy to let's. Bring my kids up with the same knowledge (something I never had) and hope they change our future generations mind set

[@C63Bez]

I’m getting interest only for my own home and buying multiple properties instead

[@user-fv1576]

Peoples thoughts on a 5yr interest only mortgage leading up to retirement?

[@user-ow2fz8md4s]

😊

[@JamieYork]

👍

[@taggthis]

Thank you. So even with your happily ever after home, you could just pay interest only?

[@JamieYork]

It’s looking like more and more options are coming to market 😊

[@kingjay476]

Its all haram its all a trap. Buy cash

[@JamieYork]

HAHAA

[@dardog7734]

Good vid

[@JamieYork]

Cheers mate!