Interest-Only Mortgages
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With an interest-only mortgage your repayments only cover the interest on the mortgage amount and do not repay any of the underlying loan capital.
See below for our pick of the best mortgage deals available in the UK at the moment:
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N/A
| Offset | Jul 2034 | Beverley |
5.00%
| 75% |
More
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2.89%
| Discount | Jul 2011 | Marsden |
5.00%
| 60% |
More
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2.99%
| Buy To Let | Jul 2010 | The Mortgage Works |
5.00%
| 60% |
More
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3.19%
| Offset | Jul 2011 | Scottish Widows Bank |
4.00%
| 60% |
More
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3.24%
| Standard | Jul 2034 | Woolwich (Barclays) |
3.00%
| 60% |
More
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3.29%
| Standard | Jul 2012 | Saffron Building Society |
5.00%
| 60% |
More *
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3.29%
| Standard | Jul 2012 | Bank of Scotland Mortgages |
5.00%
| 75% |
More *
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*for existing customers only
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
While there may be good reasons for operating a mortgage in this way, it is imperative that provision is put aside to pay off the loan at the end of the term.
Using an investment vehicle to build up a capital sum may be one way of doing this e.g. through an
ISA plan, but with all
investments there is an associated risk that the sum provided on maturity may not meet the liability.
It is important to get mortgage advice in this area to ensure that an interest-only mortgage is right for your circumstances.
Click below for mortgage quotes and advice:
Or use our free mortgage calculator to work out what your interest only mortgage repayments will be:
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