Interest Only Mortgages

If you would like an interest only mortgage, it’s necessary to be able to justify why this is the most sensible option. There must also be an exit strategy in place to repay the capital at the end of the mortgage term.

Repayment plans generally need to be documented, and interest only should never be used if the borrower can’t afford the monthly payments on a capital and interest mortgage.

In our view, interest only mortgages are an important product for many, especially in London.

It’s a viable product for people whose income is made up of large bonuses or commissions; and it’s also sensible for those who plan to live in their property for a short time, or have other assets which will cover their mortgage debt.

Many of our clients request interest only mortgages at the outset of our conversations and we are experienced in arranging such property financing. However, we will always discuss the availability of them and any other options to ensure it’s the correct route for your circumstances.