Interest Only Mortgage

Interest Only Mortgage

Interest Only Mortgage - Interest only mortgage refers to a mortgage product that repays only the interest accumulated on the mortgage for a certain period of time. With an interest only mortgage, the size of the mortgage itself does not decrease and equity is not built up in the property unless overpayments are made. Obtaining an interest only mortgage can be an intelligent way of purchasing a property over a relatively long period of time, as repayments on an interest only mortgage are cheaper than a capital repayment mortgage on the same property. An interest only mortgage is a useful mortgage product for those who are looking to spread their property purchase out over an extended period, for example, professionals at the start of their career. Careful financial planning and detailed product information is important when looking to obtain any interest only mortgage. When property prices fall during the term of a mortgage, using an interest only mortgage could put you in negative equity if your mortgage becomes bigger than the value of the property you are purchasing.

Advice and guidance from experts that have a detailed knowledge of trends and patterns in the mortgage market can be crucial when taking out an interest only mortgage. Our team of advisers have years of experience and are ideally suited to find the right interest only mortgage for your financial needs. Whether it is an interest only mortgage you are looking for, or a mixed mortgage with an initial interest only mortgage period, we can assist you. Our experienced team have up-to-the-minute mortgage offers from a wide range of lenders, helping you find the right interest only mortgage for your circumstance, at the right rate and importantly, with the right lender.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

Call us today to find an interest only mortgage for your property. We look forward to taking your call.

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