From: john boyle 
Newsgroups: uk.finance
Subject: Re: Interest only mortgages
Date: Tue, 5 Aug 2003 22:48:26 +0100

In message , Ronald 
Raygun  writes
>Another potential problem is that the lender might want the money
>back before he dies, i.e. even IO loans have a term, and whether
>a lender is amenable to extending it to be open-ended depends on
>what they feel like.  Probably OK but only if (a) pension is enough
>to pay loan interest and (b) equity doesn't go low enough to make
>the lender nervous.
>
I dont know of a case where an IO lender has demanded repayment after 25 
years (or whever). So long as you keep meeting the payments they are 
happy.
-- 
john boyle