How am I just now learning that the UK has an entire special category for interest only, high LTV, low money down loans for just landlords??? And that’s one of the only ways you can get a US style 20-30 year mortgage instead of a 5 or 7 year ARM? No wonder housing price are nuts.
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OK, if they're handing out IO loans to actual home residents that does make a big difference, because in the US at least if you aren't a millionaire with a private banker nobody is giving you an IO mortgage
You can get an IO mortgage as a primary resident but typically not high LTV. When I last checked (couple of years ago) you needed 35% down to qualify for IO.
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Think it’s now 75% max LTV for IO.
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