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Interest Only Mortgages

With an interest only mortgage, you pay only the interest to your lender. This means you need to make a separate payment into some sort of savings plan. The amount you pay into the savings plan aims to build up a lump sum to pay off the mortgage at the end of the term.

The three main types of savings plans are: endowment policies, ISAs and pension plans.

You must keep up the payments or you are unlikely to build up enough to repay the loan. The savings plan you use is not guaranteed to pay off the loan and you will have to make up any shortfall.

To find out more about the different ways of repaying a mortgage please feel free to call anytime, we would be delighted to hear from you and there is no obligation whatsoever.

We do not charge a fee for mortgage advice. However, we do offer a purely fee based option of up to 1.5% of the mortgage amount.

Your home may be repossessed if you do not keep up repayments on your mortgage


Give us a call on Tel: 0800 652 6649

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