question on mortgage ( interest only and interest/principal repayment)

Aus

--Sorry that I can't input Chinese at the moment.

Can anyone tell me the main difference between interest only repayment and
interest/principal repayment in mortgage if the interest only mortgage allows
extra repayment?


I asked for an interest & principle mortgage but lender provided an interest only
repayment contract for initial 5 years ( interest only period). also I was told that I can repay
as much as I can --- that mortgage has one offset account facility so it seems like
there is no big difference in terms of repayment and interest amount.

Many thanks for any advice.

astina

interest only每个月的compulsory repayment较少一些，investment property用的多些，因为钱可以尽可能多的还到自主房里头去。

对很多华人来说，有自制力，每月的剩余都尽量放到offset acc里去，所以区别也不大。

Aus

with the master's confirmation, I feel more comfortable now.

Thanks!