Interest Only mortgages
We offer a range of Interest Only mortgages for your clients, provided they have the ability to repay the capital at the end of their mortgage term.
Our Mortgages can be either Interest Only or Part and Part (e.g. combination of Interest Only and Capital and Interest).
- No minimum income required (subject to affordability assessment).
- Mortgages are available up to 60% LTV where the whole mortgage can be on Interest Only or
up to 75% LTV, where up to 60% of the property value can be on Interest Only and the remaining must be on Capital and Interest (i.e. Part and Part).
- We accept a wide range of repayment strategies to suit your client's needs, inlcuding the sale of a mortgaged property.
- Free standard valuation up to £999.
Our repayment strategies
Your client should know from the start how they're going to repay the mortgage at the end of the mortgage term.
It is their responsibility to ensure that they have sufficient funds to repay the amount borrowed on an Interest Only basis and (where applicable) any accrued interest at the end of the term.
Sale of a mortgaged property
Use our minimum equity finder to see how much they would require as minimum equity.
The equity can include the deposit and the amount that will be repaid under capital and interest terms (i.e. Part and Part).