Interest Only Mortgage

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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An interest only mortgage can be an effective way of reducing your mortgage payment and make life more comfortable on a monthly basis however all of the monthly repayment (which will be lower than a capital and interest repayment) is used to pay the interest on the loan and therefore the capital does not reduce.

We offer trusted advice, free of any upfront costs, for all repayment strategies that can help you to identify the right interest only mortgage for your circumstances. We have access to the whole of the mortgage market, including products not available on the high street. With interest rates at an all-time low, the decision you make now could save you thousands of pounds in the future. Whether you have a repayment strategy in place or you would like to use the sale of your property to repay the mortgage we have interest only mortgage options with no age or income restrictions.

Which strategies are acceptable?

This is a key factor when assessing viable lenders. A pension lump sum, stocks and shares investments, savings, sale of other assets can all be viable strategies for you but not all lenders agree. Each provider sets its own criteria for interest only mortgages to ensure it is lending responsibly, approaching the right lender is therefore crucial to a successful outcome.

Is downsizing an acceptable strategy?

Securing an interest only mortgage with the intention to sell your home to repay the lender at the end of the mortgage term has proved a common strategy in the past however limitations now apply. Again, this varies from lender to lender, please complete our short form and we will discuss your mortgage needs and offer you advice without obligation.

How can we help?

Our mortgage advisers are fully qualified and have the knowledge and experience to help you to get the best possible interest only mortgage for your circumstances. Complete our short enquiry form and one of our expert advisers will be happy to explain your options.

Rest assured that your details will not be shared with any third parties and we will only respond to your specific enquiry today.