Interest Only Mortgages

Your mortgage broker explains interest only mortgages and why they could be the perfect product for you.

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Interest only mortgages for buy to let and residential properties.

It is still possible in some circumstances to take out an interest only residential mortgage, but you will probably need lots of equity in your property.

Lots of landlords take out their mortgages on an interest-only basis because the payments are cheaper which increases how much income they make each month.

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Make sure that you have a repayment strategy in place.

When you take out an interest only mortgage the Lender will want to know what your “repayment strategy” is, that is to say how you will pay back the capital sum at the end of the term. In many instances, people sell the property to pay back the mortgage.

As a mortgage broker, it's important to us that you get the advice that you need, as fast as possible. Book your free mortgage appointment with one of our mortgage advisors today.

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Popular FAQs

Are interest only mortgages a good idea?

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Interest only mortgages still do have their place, especially if you have lots of equity and are planning to downsize in the future.

Can you still get an interest only mortgage?

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It is still possible to get an interest only mortgage but they are far less available than they were in the 1980s and 90s.

What is the criteria for interest only mortgage?

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Many lenders do not offer interest only mortgages but those that do will stipulate the amount of equity you need (much higher than a repayment mortgage) and some will want you to have a specified minimum income.

Can you release equity on an interest only mortgage?

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Yes, you can do this within the maximum loan to value criteria and subject to affordability and credit checks.

Can you pay off an interest only mortgage early?

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You can pay off an interest only mortgage at any time but if you are locked into a fixed rate term then you may need to pay an early repayment penalty to do so.

Why use a mortgage broker to help me get an interest only mortgage?

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We are a very experienced mortgage broker that has access to 1000's of different mortgage products, including interest only deals.

We have in-depth knowledge of interest only mortgages and specialist lending criteria. Book your free mortgage appointment online and speak with an advisor today.

8 Reasons to choose UK Moneyman

Open 7 days a week until late.

We're flexible around your work and family, we'll be there when you need us.

No cost to you consultation.

No upfront fees payable, we are paid on results only.

You'll get your own dedicated case manager.

You'll always know who you are dealing with.

We're on your side, we work for you.

Getting a new mortgage or porting an existing mortgage isn’t always easy. We’ll be here to answer all your questions throughout the whole process.

We're authorised by the Financial Conduct Authority, a consumer watchdog for financial services.

Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.

1000s of potential options.

We shop around for the cheapest deal for you, saving you time and money.

We're experienced and knowledgeable.

There isn't a situation we haven't come across before, we fully understand your needs.

It's not just about the mortgage.

We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.

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Reviews Stars4.98 Rating211 Reviews

We search 1000’s of mortgage deals for you

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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