Want to know more about Interest-Only Mortgages? Read our hub to find the information you need
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With most interest-only mortgages, borrowers only need to settle the interest each month and won’t need to pay off the capital until the end of the term. This has a number of advantages, especially if you like the idea of lower monthly outgoings, but there are pitfalls to consider too.
Read through our range of articles on interest-only mortgages below to learn all about them, including how they work, how to qualify for one and which repayment vehicles are acceptable.
A complete guide to interest-only mortgages and a good place to start for a complete overview of them, including rates, the eligibility criteria and more.
An in-depth look at the eligibility criteria for interest-only mortgages, covering deposit requirements, how affordability is assessed, repayment vehicles and more.
How to change your mortgage type from repayment to interest only and why you should speak to a mortgage broker if you’re doing this.
Find out what your prospects of getting an interest-only mortgage are if you’re a first-time buyer and learn how a mortgage broker can boost them.
Part-and-part mortgages are a middle ground between repayment and interest only, and in this guide, you can read all about them and how they work.
How to change a mortgage from interest-only to repayment and why you should consult with a mortgage broker before going ahead with this.
How to increase the term of your interest-only mortgage, why people do this and how a mortgage broker can help you renegotiate your deal.
A guide to the acceptable repayment vehicles for an interest-only mortgage, why they’re so important and what to do if yours fails to pay out.
A rundown of your options as you approach the end of an interest-only mortgage term, including term extensions, switching to repayment and more.
How to get a secured loan on an interest-only basis, including eligibility criteria, equity requirements and how they compare to standard secured loans.
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*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.
Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.
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