Low Doc Loans Co offers interest only loans as well as the standard principal and interest loans.
An interest only loan has lower repayments as there is no repayment of principal. Interest only loans can be established for full doc and low doc home loans and full doc or low doc investment loans.
The loan is interest only for a fixed period, usually from 1 to 5 years. Once the period expires, the loan will automatically revert to a principal and interest loan.
Why choose an interest only loan?
Some borrowers have other use for their capital and want to buy another propoerty or use the money in their business and prefer to have minimum repayments.