By taking an interest only mortgage your debt will not reduce over the course of the mortgage. You will therefore have to repay the full amount that you borrowed at the end of the mortgage term. In the case of a RIO mortgage, this may be when the booster passes away or is taken in to long term care. However. if you opt for a repayment mortgage, then the loan will reduce each month that you make a repayment. This is not the case with interest only mortgages.

For more information on the implications of being a Booster, read our detailed guide here.