Interest Only Mortgages

Whether you already have an Interest Only Mortgage which is coming up for repayment soon or wish to consider taking out a new Interest Only Mortgage, we can help. If your current lender is not assisting or you are struggling to find a suitable product, we will search the whole of the market until we track down the ideal mortgage for you.

Shortage of Interest Only Mortgages

At one time, Interest Only Mortgages were quite easy to find but since then, lenders have withdrawn many products from the market. This makes it now extremely difficult to take out a new Interest Only Mortgage.  Those that are on offer have very strict conditions such as clients not being over the age of 65, having a high degree of equity in the property or possessing high income or a guaranteed repayment solution, such as an ISA.

We will explore all products on offer

However, that does not mean that we cannot help.  With access to the whole of market, we can identify lenders that are more flexible and will lend up to a much higher age.  Rates will depend upon those currently available and your personal circumstances.  Once our research is complete and we have a detailed view of your needs and wants, we can look at a variety of ways of paying off the mortgage sum and how much you may be able to borrow.  Instead of having to commit to an ISA or endowment policy to cover the mortgage, you may be able to downsize, sell other assets or property or even rely on funds coming in from an inheritance in the future.

Confidential consultation

The first step to take is to get in touch with us and arrange an in-depth and confidential consultation with one of our team.  We will take our time to work through your personal circumstances, future income upon retirement, property value and other pertinent details.  Once this has been done, we will carefully research the whole of the mortgage market until we identify the best mortgage for you.

If it appears that an Interest Only Mortgage is not going to be suitable, we will always come up with alternative suggestions.  We will never leave you without a way of going forward; our goal is to resolve your mortgage problems and see you enter retirement with full peace of mind financially.

Get in touch now and chat with one of our friendly and helpful team members.  We are always ready to assist and nothing is too much trouble for us when it comes to looking after our clients.