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Interest only on 1st months of mortgage?

  • 26-06-2013 9:18am
    #1
    jack77
    Registered Users, Registered Users 2 Posts: 115 ✭✭


    Hi all, we're thinking of moving to a bigger house as we need the room with the kids, the plan is to rent our current house as selling it will result in a loss as the market is so poor, question is would the bank give a new mortgage on interest only terms for 6 months say until we have our old one rented and some work done on the new one? i sounded out the bank on a new mortgage a few months ago and they were positive enough about it but didn't ask about interest only for a few months.


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  • #2
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    jack77 wrote: »
    Hi all, we're thinking of moving to a bigger house as we need the room with the kids, the plan is to rent our current house as selling it will result in a loss as the market is so poor, question is would the bank give a new mortgage on interest only terms for 6 months say until we have our old one rented and some work done on the new one? i sounded out the bank on a new mortgage a few months ago and they were positive enough about it but didn't ask about interest only for a few months.

    Depends on the bank... AIB offer a 3 month deferred start which is probably what would suit you best.


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