An interest-only structure is naturally cheaper since there is no principal to worry about. It is particularly enticing for customers who intend to sell their property at some point in retirement and live off their existing equity.
“It’s really about giving customers flexibility. It’s really about giving them additional cash flow to help manage their lifestyle needs, particularly as they’re near retirement,” Christofides said.
Just how worse off are we?
Generational in-fighting would have you believe that the older generations have reaped the rewards of a buoyant housing market, only to pull the ladder up for Millennials and beyond.
But soaring living costs have shown no prejudice in who they…
