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Interest Only Mortgages Call: 0844 800 8487
An interest only mortgage means you are only paying the interest only element of the loan amount each month. But at the end of the term you will still owe the original amount. In the meantime your monthly repayments are less and if you are buying property for investment purposes this is considered the most efficient way of funding your portfolio. However, it is important that you manage your property portfolio wisely to ensure that you have the capital available at the end of the term to pay off the loan or refinance.
For more information on interest only mortgages, please contact one of our mortgage brokers today.
When deciding what mortgage to apply for it is important that you compare on a like for like basis. Products will carry different application fees, arrangement fees, early redemption charges and other administration fees. Be sure to read the small print before making your decision.
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Interest Only Mortgages