No you don't. Consider a landlord who takes an interest-only business mortgage to purchase a buy-to-let property. In good times for landlords, the rent pays t

No you don't. Consider a landlord who takes an interest-only business mortgage to purchase a buy-to-let property. In good times for landlords, the rent pays the mortgage interest and some more which is profit for the landlord. Even if there is a slight loss, when property prices are rising the landlord does ok because they can refinance against the higher valuation. This loan never needs to be paid off, as long as there's enough rent and/or refinancing to keep paying the interest. Both the bank and the landlord profit from keeping this arrangement as long as they want it, it can even be passed down generations or sold to someone else, as an ongoing business.