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With this type of mortgage you are only paying interest each month. This means that although your payments will be lower, the amount you borrow will still be outstanding at the end of the mortgage term. You'll need to make alternative arrangements to pay off the mortgage to avoid the property having to be sold, this will have to be an appropriate repayment plan that is best discussed with an IFA.


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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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