From: Jacque Parker
OK, all you successful wrappers out there (whom I'm about to join any day now!)- who out there is using IO loans, as opposed to P and I ones? I like the idea of my future clients being able to be refinanced in a few to five years time, rather than sticking with me for 25 yrs, therefore I would prefer IO loans, as it frees up my cashflow.
I have read, however, that P and I loans need to be used, as I must put the repayment of my client directly into my mortgage account. I'm not a real financial whizz (wish I was!) so have trouble with this area. Any ideas? Cheers, Jacque
OK, all you successful wrappers out there (whom I'm about to join any day now!)- who out there is using IO loans, as opposed to P and I ones? I like the idea of my future clients being able to be refinanced in a few to five years time, rather than sticking with me for 25 yrs, therefore I would prefer IO loans, as it frees up my cashflow.
I have read, however, that P and I loans need to be used, as I must put the repayment of my client directly into my mortgage account. I'm not a real financial whizz (wish I was!) so have trouble with this area. Any ideas? Cheers, Jacque
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