Structure

In New Zealand there are four main facilities available from lenders:

Interest only loans are available for up to 10 years with interest generally payable on a monthly basis. This type of loan is favoured by many property investors who want to defer paying down principle. This interest only option may not be available to above 80% LVR borrowers. You are not paying principal back so this lowers outgoings, however you will need to repay principal after the interest only period expires.
Table loans with terms up to 30 years (usually limited to 25 years for loans above 80% LVR). The repayments are set to repay interest and principal over the term of the loan which can be good for budgeting. Repayments are typically fortnightly or monthly, and can be fixed and/or floating.
Principal reducing loan - also called straight line. Repayments are higher compared to table loan but reduce overtime as the interest cost diminishes with principal reduction.
Revolving credit. This is like a big overdraft limit, it offers flexibility but does require a disciplined borrower to reduce the amount owing.