Interest in advance

[PHF]

Query for the finance brokers......
If I choose to pay 12 months interest in advance, how will this effect access to equity in that property etc during the 12 month period?


If I've left out any vital info just say.

Thanks in advance for all advice

Dan

 

[tobe]

most lenders will let you apply for a new loan against the increased value of the security while your fixed rate runs. If for some reason you needed to change lenders, you will be hit by break costs to change lenders. With Interest in advance this probably means not getting any interest you paid in advance back, even though you didnt use the facility for the full year....