If you don't want to build a shop

Stuart Ablett said:

Hey Duncan, you might be right about the 25 years and not paying for the house, but at least the value of the house will have gone up.

Click to expand...

Property prices have pretty much quadrupled here in the last ten years - and that at a time of very low inflation. Interest rates have just gone up again - they're nearly twice what they were a couple of years ago.

More and more pundits are now predicting a house price crash in the order of 40-50%.

Your interest-only mortgage won't look so clever then. In 25 years the house's value might have gone back up to what you bought it for.

Oh, and by the way, you haven't started paying for it yet!

Cheers
Brad

(I mean Duncan - still not got used to this!)