When you apply for an interest-only mortgage your Lender will ask you how you intend to repay the mortgage, so you need to have a repayment strategy in mind (also known as a repayment vehicle). Lenders accept differing repayment vehicle. The most common are: investments, such as equities, sale of another owned property or, in some cases, sale of the mortgaged property. It is your responsibility to make sure you can pay off the mortgage at the end of the term.

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