An Interest-Only Mortgage is a type of mortgage where the borrower only pays the interest on the loan each month, rather than paying back the amount initially borrowed. This means that at the end of the mortgage term, the borrower still owes the full amount borrowed. Learn more >
Interest Only Mortgages FAQS
How much can I borrow with an Interest-Only Mortgage?
There is no one answer for this as the criteria varies from lender to lender, when looking to apply for an Interest-Only Mortgage. Some lenders will need you to be earning a minimum income, and some will need a minimum amount of equity left in the property at the end of the term, or a mixture of the two. The amount you can borrow will also be dependent on your personal income and commitments, the same as a standard mortgage.
How much deposit do I need for an Interest-Only Mortgage?
Can I get an Interest-Only Mortgage for Buy-to-Let?
What’s the process to apply for an Interest-Only Mortgage?
Can I keep my payments down with Interest-Only Mortgage?
What is a ‘repayment vehicle’ in relation to an Interest-Only Mortgage?
Can I get an Interest-Only Mortgage with bad credit?
Will an Interest-Only Mortgage cost me more over the term?
Will I pay a higher Interest rate on an Interest-Only Mortgage?
I have an Interest-Only Mortgage now, can I just switch it to a new lender?
Book A Call To Discuss Interest Only Mortgages
If you have an enquiry and would like to discuss Interest Only Mortgages in more detail, please get in touch or schedule one of our Interest Only Mortgage broker experts to give you a call.
At MRG Private Clients, we believe in providing our clients with personalised guidance and support when it comes to making important financial decisions. We are based in Medway, Kent but offer our specialist mortgage services nationwide. Learn more about our specialist mortgage services >
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