Buy to Let Interest Only Mortgages

Buy to Let Interest Only Mortgages

Compare Interest Only Buy To Let Mortgage Deals

Type
Fixed Buy-to-Let
Initial Term
2 Years
Initial Interest Rate
1.74%
Reverts to 4.74%
Max LTV
60%
Product Fee
Yes

Call FREE on 0800 056 8572

Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let
Initial Term
2 Years
Initial Interest Rate
1.74%
Reverts to 4.74%
Max LTV
60%
Product Fee
Yes

Call FREE on 0800 096 7962

Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let
Initial Term
2 Years
Initial Interest Rate
1.79%
Reverts to 5.19%
Max LTV
75%
Product Fee
Yes

£500 Cashback

Call FREE on 0330 057 1595

Early redemption charges may apply. Overall Cost for Comparison 4.80% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let Remortgage
Initial Term
2 Years
Initial Interest Rate
1.84%
Reverts to 4.74%
Max LTV
60%
Product Fee
Yes

Call FREE on 0800 056 8572

Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let
Initial Term
2 Years
Initial Interest Rate
2.12%
Reverts to 4.74%
Max LTV
75%
Product Fee
Yes

Call FREE on 0800 096 7962

Early redemption charges may apply. Overall Cost for Comparison 4.50% APRC. This is the cost of the mortgage over the full term.

Type
Tracker Buy-to-Let Remortgage
Initial Term
2 Years
Initial Interest Rate
2.38%
Reverts to 4.74%
Max LTV
60%
Product Fee
Yes

Call FREE on 0800 056 8572

Early redemption charges may apply. Overall Cost for Comparison 4.70% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let
Initial Term
5 Years
Initial Interest Rate
2.79%
Reverts to 4.74%
Max LTV
75%
Product Fee
Yes

Call FREE on 0800 056 8572

Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let
Initial Term
5 Years
Initial Interest Rate
2.74%
Reverts to 5.19%
Max LTV
75%
Product Fee
Yes

£500 Cashback

Call FREE on 0330 057 1595

Early redemption charges may apply. Overall Cost for Comparison 4.50% APRC. This is the cost of the mortgage over the full term.

Type
Tracker Buy-to-Let
Initial Term
2 Years
Initial Interest Rate
2.94%
Reverts to 4.74%
Max LTV
75%
Product Fee
Yes

Call FREE on 0800 096 7962

Early redemption charges may apply. Overall Cost for Comparison 4.70% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let
Initial Term
2 Years
Initial Interest Rate
3.45%
Reverts to 5.19%
Max LTV
80%
Product Fee
Yes

£500 Cashback

Call FREE on 0330 057 1595

Early redemption charges may apply. Overall Cost for Comparison 5.20% APRC. This is the cost of the mortgage over the full term.

Type
Fixed Buy-to-Let
Initial Term
5 Years
Initial Interest Rate
3.61%
Reverts to 5.19%
Max LTV
80%
Product Fee
Yes

£500 Cashback

Call FREE on 0330 057 1595

Early redemption charges may apply. Overall Cost for Comparison 4.90% APRC. This is the cost of the mortgage over the full term.

An interest only mortgage will essentially allow you to only repay the interest that is owed each month on your mortgage. Lenders will expect you to have a repayment strategy in place. What is acceptable as a repayment strategy will differ from lender to lender.

Examples include:

  • Sale of the mortgaged property
  • An acceptable savings vehicle such an ISA or tax free cash from a pension plan
  • Sale of an investment property

Mortgage lenders who provide interest only options will have different rules on this.

Typically lenders will go up to 75% loan to value.

Some will operate on what is called a part and part basis e.g. 50% of the mortgage loan on an interest only basis and 25% on a capital repayment basis.

It will depend on your situation.

Lenders will want to be comfortable that you can afford to pay off the mortgage at the end of the loan term. So typically you will need to have at least 25% equity in your home. The new lender will also as with any mortgage review your income and previous borrowing record before making an offer.

With your current mortgage it is important to check to see if there are any early redemption charges if you move your mortgage to a new lender.

The good news is that in the last 12 months the options for people age 60+ for interest only mortgages has improved significantly with many lenders bringing out flexible products for older borrowers.

For example Post Office have brought out a retirement link mortgage which allows borrowers to take out a mortgage on an interest only basis up to age 80.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE