David Madison was a professional cricketer. He used to play for a county in England. When he decided to buy a house for his family, he faced the same dilemma that most of the people face when they buy a house: choosing a mortgage. 

Since he was usually busy playing in various tournaments, he could not use self build mortgages. He also cut it off from his list of options because he did not have much technical expertise in the field of economics and business. 

Similarly, he decided against using self cert mortgages because David was afraid that he may make the wrong decisions which may prove out to counter productive for him in future and in the worse case he wouldn’t be able to pay his mortgage. 

His agent at the financial company gave him two choices, one of them being that of remortgages. Although initially it sounded like a good option, David later found out that the interest rates were lower for only the first few years and the property can be taken over if he defaulted. 

Finally, David decided to use interest only mortgages due to a variety of reasons that he shares with friends and family. He says that this mortgage plan not only allowed him to pay only interest for a particular initial time period, but also gave him time so that he could consider other sources to fund his mortgage payment later. He opines that this was probably the turning point in the entire procedure and ultimately helped him big time in paying off the full principle amount.