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No matter what banks tell you, there's no such thing as 'keeping an old loan' if the security is sold/changed. It's just a new loan with the same customer at the same/better rate.

"In regards to the mortgage, you might want to consider paying principal and interest instead of interest only. Use a mortgage calculator, you'll find that P&I saves a significant amount over the course of the loan. There's two way to pay off your mortgage faster, lower the interest rate (ask...

Hi Mike, You might be able to pull it off but only if you are comfortable with saving and being dedicated to maximising your cashflow. If sudden expenses come up etc it will cause you serious problems.