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Guide – Interest Only Mortgages
Unlike a repayment mortgage, where you repay the loan along with the interest, an interest only mortgage leaves you with the original lump sum still to pay off at the end of the term. However, you can also pay off some or all of the mortgage any time that suits you.
An interest only mortgage is worth considering if you are a first-time buyer looking to reduce repayment costs in the short term, or more likely, if you are investing in a buy-to-let property or second home. Because of the lower monthly instalments, interest only mortgages are also attractive to people with fluctuating incomes.
To find out the best interest only mortgages available to you, simply fill in the three-step form at the top of this page.
The Mortgage Broker – Call us on 0800 822 3355
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The Mortgage Broker are specialists in Interest Only Mortgages. Complete the form above and One of our qualified FSA Regulated mortgage brokers will compare to find you the best deal.
For Quotes & Advice on Interest Only Mortgages deals complete our comparison enquiry form.
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
*Correct as at 15th January 2008
